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Price Ceilings and their ConsequencesThe table shows the quantity of bread that is demanded and ...

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Price Ceilings and their ConsequencesThe table shows the quantity of bread that is demanded and ...

Price Ceilings and their Consequences

The table shows the quantity of bread that is demanded and supplied at various prices.

Price	Quantity Demanded	Quantity Supplied
1.50	540	190
2.50	450	275
3.50	360	360
4.50	270	445

The government sets a price ceiling at $2.50. The price ceiling causes a ________ (shortage/surplus) of ________.

▸ shortage, 175

▸ surplus, 350

▸ shortage, 350

▸ surplus, 175

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 34 times

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rafiki121 Author

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Smart ... Thanks!

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this is exactly what I needed

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Thanks for your help!!

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