The figure to the right shows the weekly supply and demand for calculators at a local college in Victoria, British Columbia. Suppose the college wants to put a binding price ceiling on calculators sold on campus to keep student costs low. 1.) Use the line drawing tool to draw and label an appropriate binding price ceiling. 2.) Use the point drawing tool to plot and label the quantity demanded and supplied along the price. ceiling. Carefully follow the instructions above, and only draw the required objects. Which of the following is not a consequence of this binding price ceiling? OA. an excess supply of calculators OB. a reduction in calculator sales OC. some unhappy students OD. a decrease in the quantity supplied of calculators E. an excess demand for calculators Price ($) 50- 40- 30- 20- 10- 0+ 0 10 20 E 30 Quantity 40 S D 50 Q Q G

The figure to the right shows the weekly supply and demand for calculators at a local college in Victoria, British Columbia. Suppose the college wants to put a binding price ceiling on calculators sold on campus to keep student costs low. 1.) Use the line drawing tool to draw and label an appropriate binding price ceiling. 2.) Use the point drawing tool to plot and label the quantity demanded and supplied along the price. ceiling. Carefully follow the instructions above, and only draw the required objects. Which of the following is not a consequence of this binding price ceiling? OA. an excess supply of calculators OB. a reduction in calculator sales OC. some unhappy students OD. a decrease in the quantity supplied of calculators E. an excess demand for calculators Price ($) 50- 40- 30- 20- 10- 0+ 0 10 20 E 30 Quantity 40 S D 50 Q Q G

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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