Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. As a result:
A) the quantity supplied in the market is Qs.
B) buyers' willingness to pay for the good is Pd.
C) the quantity demanded in the market is Qd.
D) All of the answers are correct.

Question

Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. As a result:
A) the quantity supplied in the market is Qs. 
B) buyers' willingness to pay for the good is Pd. 
C) the quantity demanded in the market is Qd. 
D) All of the answers are correct.

Quizplus · Accepted Answer

The Answer of  Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. As a result:
A) the quantity supplied in the market is Qs. 
B) buyers' willingness to pay for the good is Pd. 
C) the quantity demanded in the market is Qd. 
D) All of the answers are correct.

Reference: Ref 8-6 (Figure: Price Ceiling of Ps) Refer to the Figure