14. I n the graph, ifa price ceiling is set at $4, which of the following would

Question

14. I n the graph, ifa price ceiling is set at $4, which of the following would result? Supply Demand 10 20 30 4050 A) a shortage of 40 units B) a shortage of 20 units C) a surplus of 20 units D) a surplus of 40 units 15. In what City do the Boston Red Sox play baseball A) Bostorn B) Paris C) New York D) Soxalvania 16. (Table) According to the table, if 50 discouraged workers suddenly decide to actively seeking employment again, what will be the unemployment rate of t economy? Population Number employed Number 500 300 25% 16.67% 10% 14.3% A) B) C) D)

Explanation / Answer

14. A shortage of 20 Units.

Explanation: When the price is $4, the demand is 40 units and supply is 20 units. So, there is a shortage of 40 - 20 = 20 units

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