Question

Given the associated quantity demanded, Q1, and quantity supplied, Q2, which of the following describes the quantity Q2−Q1?

A.the surplus resulting from the price floor Pc
B. the shortage resulting from the price floor Pc
C.the surplus resulting from the price ceiling Pc
D. the shortage resulting from the price ceiling Pc

Answer 1

Answer: Its

the surplus resulting from the price floor Pc so A

Explanation:

Answer 2

1.Maximum price below the market equilibrium price

2.Producers from low market prices

3.Lead to a shortage as prices are kept from rising to their equilibrium level

4.A price ceiling of $1,000

5.The surplus resulting from the price floor Pc

Explanation:

I just took the Price Ceilings and Floors Quick Check

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