Refer to the graph shown. With an effective price ceiling at $3, the quantity supplied:
A) falls from 70 to 40.
B) falls from 40 to 20.
C) increases from 40 to 70.
D) increases from 20 to 40.

Question

Refer to the graph shown. With an effective price ceiling at $3, the quantity supplied: 
A) falls from 70 to 40. 
B) falls from 40 to 20. 
C) increases from 40 to 70. 
D) increases from 20 to 40.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. With an effective price ceiling at $3, the quantity supplied: 
A) falls from 70 to 40. 
B) falls from 40 to 20. 
C) increases from 40 to 70. 
D) increases from 20 to 40.

Refer to the Graph Shown