18 16 14 12 -10 - 8 6 D 10 12 14 16 18 In the graph above, the equilibrium price is $5 and the equilibrium quantity is 10 units. A price ceiling is set at $4. At a price of $4, quantity supplied is 8 and quantity demanded is 14. The effect of a price ceiling is that the market price is $4 and the quantity is 8. There is a shortage of 6 units (14-8). D Question 3 1 pts Suppose instead the price ceiling was set at $4. In that case, the market price is: 5/} Question 6 1 pts Suppose instead the price ceiling was set at $6. In that case, the market price is