Figure 6-14 24 Price 21+ 18- 15 12- 9 6 3 Supply Daud 20 40 60 80 100 120 140 160 180 Quantity Refer to Figure 6-14. If the horizontal line on the graph represents a price ceiling, then the price ceiling is a) not binding, and there will be no surplus or shortage of the good. b) binding and creates a shortage of 40 units of the good. c) not binding but creates a shortage of 40 units of the good d) binding and creates a shortage of 20 units of the good.

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