How big is the shortage resulting from the price ceiling

Reference no: EM133631018

Question: In the market for good B, the quantity demanded and quantity supplied are QD = 400 - 250P and QS = 250P - 100. Suppose the government sets a price ceiling of $0.50 per unit of good B. How big is the shortage resulting from the price ceiling?

Reference no: EM133631018

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