Camillerose6085 Camillerose6085

10-01-2024
Business

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Let's assume that the government imposed a price ceiling on gasoline-powered cars. Calculate the shortage caused by the price ceiling. (units: cars)

a) Shortage = Quantity Demanded - Quantity Supplied
b) Shortage = Price Ceiling - Market Price
c) Shortage = Quantity Supplied - Quantity Demanded
d) Shortage = Market Price - Price Ceiling

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