Good X P (S/unit) 12 5 D Q (units) 10 25 45 In the market diagrammed above, the government sets the maximum price at $5 per unit. This produces a Select one: a. shortage of 35 units. O b. surplus of 45 units. O c. shortage of 15 units. O d. surplus of 20 units.

Good X P (S/unit) 12 5 D Q (units) 10 25 45 In the market diagrammed above, the government sets the maximum price at $5 per unit. This produces a Select one: a. shortage of 35 units. O b. surplus of 45 units. O c. shortage of 15 units. O d. surplus of 20 units.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Consumers, Producers, And The Efficiency Of Markets

Section: Chapter Questions

Problem 6CQQ

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Question

Good X
P
(S/unit)
S
12
D
Q (units)
10
25
45
In the market diagrammed above, the government sets the maximum price at $5 per unit.
This produces a
Select one:
a. shortage of 35 units.
O b. surplus of 45 units.
c. shortage of 15 units.
O d. surplus of 20 units.

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