A price ceiling of p=8, if perfectly enforced, will create a shortage equal to 11. shortage equal to 21. surplus equal to 11. O surplus equal to 11.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Question 9 (1 point)
Price
24+
22 +
20+
A
18
Supply
16+
B
14
12
F
10 +
D
H
G
6+
J
4
K
L
M
Demand
2+
3 6 9 12 15 18 21 24 27 30 33 36 39
Quantity
A price ceiling of p=8, if perfectly enforced, will create a
shortage equal to 11.
shortage equal to 21.
surplus equal to 11.
surplus equal to 11.
Transcribed Image Text:Question 9 (1 point) Price 24+ 22 + 20+ A 18 Supply 16+ B 14 12 F 10 + D H G 6+ J 4 K L M Demand 2+ 3 6 9 12 15 18 21 24 27 30 33 36 39 Quantity A price ceiling of p=8, if perfectly enforced, will create a shortage equal to 11. shortage equal to 21. surplus equal to 11. surplus equal to 11.
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