Price $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 0 FIGURE 5-2 5 10 15 Select one: Quantity Supply 20 25 30 35 40 Demand Refer to Figure 5-2. A price floor set at $2.50 will result in A. a surplus of 5 units. B. a shortage of 5 units. C. a surplus of 10 units. D. a shortage of 10 units. O E. no change to the market outcomes.

Price $4.00 $3.50 $3.00 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 0 FIGURE 5-2 5 10 15 Select one: Quantity Supply 20 25 30 35 40 Demand Refer to Figure 5-2. A price floor set at $2.50 will result in A. a surplus of 5 units. B. a shortage of 5 units. C. a surplus of 10 units. D. a shortage of 10 units. O E. no change to the market outcomes.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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