Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 3SQ
Related questions
Question
Transcribed Image Text:Question 36
2.40
2.00
1.60
1.20
0.80
0.40
Supply
Demand
12000 13000 14000 15000 16000
O It is non-binding
O There is a shortage of 1000
O There is an excess supply of 1000
If a price ceiling of $0.80 is imposed in this market, then which of the following is true?
O There is a shortage of 2000
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