不 Suppose the market clearing price of a specific medication is $45 per unit, as shown by the graph. The legal ceiling price, however, is $30 per unit. Based on this graph, will a shortage or surplus exist in the market? OA. There is a shortage of 2,000 units. OB. There is a surplus of 4,000 units. OC. There is a shortage of 4,000 units. COD. The market is in equilibrium. 75 Q 60- G 45- Price of Medication 6 per unit) 15- 30- D Quantity of Medication (thousands of units)

不 Suppose the market clearing price of a specific medication is $45 per unit, as shown by the graph. The legal ceiling price, however, is $30 per unit. Based on this graph, will a shortage or surplus exist in the market? OA. There is a shortage of 2,000 units. OB. There is a surplus of 4,000 units. OC. There is a shortage of 4,000 units. COD. The market is in equilibrium. 75 Q 60- G 45- Price of Medication 6 per unit) 15- 30- D Quantity of Medication (thousands of units)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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