What is the shortage caused by the $2 price ceiling

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A price ceiling for maple syrup caused a shortage, which led to a black market price of ($4) higher than the initial equilibrium price($3). suppose the price ceiling remains in place for years.over time some maple syrup firms go out of business. with the fewer firms, the supply curve in the figure shifts leftward by 10,000 bottles per month. After the shift in the supply curve: what is the shortage caused by the $2 price ceiling? provide a numerical answer

Reference no: EM13228803

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