What would likely happen in the market for eggs

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Reference no: EM133411066

Question: A new scientific study sponsored by Eggs-R-Us, Inc. suggests that six eggs per day can increase your life span by 25 years or more. The price of eggs skyrockets, and the available supply of eggs plummets. The U.S. government panics and decides to place a price ceiling on the market for eggs to ensure everyone has equitable and inclusive access to eggs (and extra years paying income taxes). Please illustrate graphically what would likely happen in the market for eggs. Make sure to properly label your graph (axes, equilibrium and ceiling prices and quantities, shortage/surplus).

Reference no: EM133411066

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