If the government imposes a price ceiling at $14, and the equilibrium price is at $10 in this market, the result would be a. A shortage b. A surplus c. A new equilibrium price d. Neither a surplus or a shortage
If the government imposes a price ceiling at $14, and the equilibrium price is at $10 in this market, the result would be a. A shortage b. A surplus c. A new equilibrium price d. Neither a surplus or a shortage
Chapter1: Making Economics Decisions
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![If the government imposes a price ceiling at $14, and the equilibrium price is at $10 in
this market, the result would be
a.
A shortage
b. A surplus
c. A new equilibrium price
d. Neither a surplus or a shortage](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb0f4b4d0-c299-487d-a14d-0757142a6f10%2Ffb08d9fc-203d-42c5-8c73-bdac2932a2e9%2F2w9kzeu_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If the government imposes a price ceiling at $14, and the equilibrium price is at $10 in
this market, the result would be
a.
A shortage
b. A surplus
c. A new equilibrium price
d. Neither a surplus or a shortage
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