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A snow storm hits Atlanta in March. The table below represents the market for milk. Suppose there is a price ceiling set at $ 2.25
A snow storm hits Atlanta in March. The table below represents the market for milk. Suppose there is a price ceiling set at $ 2.25 per gallon to avoid price gouging. Calculate the shortage caused by the price ceiling. Price Quantity Supplied Quantity Demanded $ 2.25 600 4 , 500 $ 3.50 1 , 300 3 , 800 $ 4.75 2 , 500 2 , 500 $ 6.00 3 , 700 1 , 700 $ 7.25 5 , 500 700
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