Figure 6-8 A graph of price, P, versus quantity, Q, shows two parallel supply curves, S 1 and S 2, and a demand curve, D. The supply curves are straight lines ascending to the right, and the demand curve is a straight line descending from upper left to lower right. S 1 is to the right of S 2. S 1 intersects Curve D at point (Q 1, P 1), and S 2 intersects Curve D at point (Q 3, P 3). Q 1 is greater than Q 3, and P 1 is less than P 3. A price ceiling, P 2, is depicted as a horizontal line between P 1 and P 3. Refer to Figure 6-8 . When the price ceiling is enforced in this market and the supply curve for gasoline shifts from S 1 to S 2 , a. a surplus will occur at the new market price of P2. b. the market price will increase to P3. c. a shortage will occur at the new market price of P2. d. the market price will stay at P1