Refer to the above table, If the government implemented a price control at $20 which of the following is true? Refer to the above table. If the government implemented a price control at $20 which of the following is true?Quantity Demanded2.0001,800Unit PriceQuantity Supplied$510300151.6001,4001.2001,00060020900251,2001,50030The market is at equilibriumO This would be considered a free marketO This would be considered a Price CeilingO This would be considered a Price Floor

A market is in equilibrium at quantity demanded equal to quantity supplied. A shortage is where the…

Refer to the above table. If the government implemented a price control at $20 which of the following is true? Unit Price Quantity Demanded 2,000 1,800 1,600 1,400 1,200 1,000 Quantity Supplied $5 10 300 15 600 20 900 25 1.200 1,500 30 The market is at equilibrium O This would be considered a free market O This would be considered a Price Ceiling O This would be considered a Price Floor

Refer to the above table. If the government implemented a price control at $20 which of the following is true? Unit Price Quantity Demanded 2,000 1,800 1,600 1,400 1,200 1,000 Quantity Supplied $5 10 300 15 600 20 900 25 1.200 1,500 30 The market is at equilibrium O This would be considered a free market O This would be considered a Price Ceiling O This would be considered a Price Floor