$$\begin{array} { | c c c | }
\hline { \text { Fimure 4-1 } } \
\hline \text { Price } & \begin{array} { r }
\text { Quartity } \
\text { Per Pair }
\end{array} & \begin{array} { c }
\text { Quartity } \
\text { Derpplied }
\end{array} \
\hline \$ 2 & 18 & 3 \
\$ 4 & 14 & 4 \
\$ 6 & 10 & 5 \
\$ 8 & 6 & 6 \
\$ 10 & 2 & 8 \
\hline
\end{array}$$
-Figure 4-1 shows the supply and demand for socks.If a price ceiling of $10 per pair is imposed by the government,the number of pairs actually purchased will be
A) 2 pairs
B) 8 pairs
C) 5 pairs
D) 1 pair
E) 6 pairs

Question

$$\begin{array} { | c c c | } 
\hline  { \text { Fimure 4-1 } } \
\hline \text { Price } & \begin{array} { r } 
\text { Quartity } \
\text { Per Pair }
\end{array} & \begin{array} { c } 
\text { Quartity } \
\text { Derpplied }
\end{array} \
\hline \$ 2 & 18 & 3 \
\$ 4 & 14 & 4 \
\$ 6 & 10 & 5 \
\$ 8 & 6 & 6 \
\$ 10 & 2 & 8 \
\hline
\end{array}$$
-Figure 4-1 shows the supply and demand for socks.If a price ceiling of $10 per pair is imposed by the government,the number of pairs actually purchased will be
A) 2 pairs
B) 8 pairs
C) 5 pairs
D) 1 pair
E) 6 pairs

Quizplus · Accepted Answer

At a price ceiling of $10, the quantity demanded is 2 pairs, and the quantity supplied is 8 pairs. However, the market will only purchase the quantity demanded, which is 2 pairs.

-Figure 4-1 Shows the Supply and Demand for Socks