From FIGURE A, which of the following price controls would cause a shortage of 40 units of the good? 20 18 16 14 12 10 8642 price 10. 20 (a) a price ceiling of $8 (b) a price ceiling of $10 O(c) a price floor of $14 (d) a price floor of $16 (e) a price floor of $12 30 40 50 60 70 80 S D quantity

From FIGURE A, which of the following price controls would cause a shortage of 40 units of the good? 20 18 16 14 12 10 8642 price 10. 20 (a) a price ceiling of $8 (b) a price ceiling of $10 O(c) a price floor of $14 (d) a price floor of $16 (e) a price floor of $12 30 40 50 60 70 80 S D quantity

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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From FIGURE A, which of the following price controls would cause a shortage of 40
units of the good?
20
18
16
14
12
10
8
6
4
2
price
10. 20
(a) a price ceiling of $8
O (b) a price ceiling of $10
O(c) a price floor of $14
(d) a price floor of $16
(e) a price floor of $12
30
40
50
60
70
80
D
quantity

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