2:43 PM Fri May 3 × Timed Test Question 5 Table 6-1 Price Quantity Quantity Demanded Supplied $20 2400 $30 2000 200 $40 1600 400 $50 1200 600 $60 800 800 $70 400 1000 $80 0 1200 11 Final Exam: Attempt 1 Refer to Table 6-1. Suppose the government imposes a price ceiling of $30 on this market. What will be the size of the shortage in this market? 1200 units 2 400 units 30 units 1800 units 4 of 30 completed Drafts Are Disabled Submit
2:43 PM Fri May 3 × Timed Test Question 5 Table 6-1 Price Quantity Quantity Demanded Supplied $20 2400 $30 2000 200 $40 1600 400 $50 1200 600 $60 800 800 $70 400 1000 $80 0 1200 11 Final Exam: Attempt 1 Refer to Table 6-1. Suppose the government imposes a price ceiling of $30 on this market. What will be the size of the shortage in this market? 1200 units 2 400 units 30 units 1800 units 4 of 30 completed Drafts Are Disabled Submit
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:2:43 PM Fri May 3
×
Timed Test
Question 5
Table 6-1
Price
Quantity
Quantity
Demanded Supplied
$20
2400
$30
2000
200
$40
1600
400
$50
1200
600
$60
800
800
$70
400
1000
$80
0
1200
11
Final Exam: Attempt 1
Refer to Table 6-1. Suppose the government imposes a price ceiling of $30 on this market. What will be the size of the
shortage in this market?
1200 units
2 400 units
30 units
1800 units
4 of 30 completed
Drafts Are Disabled
Submit
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