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D Question 24 2 pts Question 3 10 20 30 40 50 60 70 80 quexit 12 15 Which of the following price controls would cause a surplus of 60 units of the good? a price ceiling of $4 A price floor set at $7 will be binding and will result in a shortage of 12 units. O a price ceiling of $3 A price floor set at $7 will be binding and will result in a surplus of 12 units. A price floor set at $4 will be binding and will result in a surplus of 6 units. a price floor of $7 O A price floor set at $4 will be binding and will result in a shortage of 6 units. O a price floor of $9 D Question 22 D Question 25 2 pts Price 170 160 I Price 150 140 160 130 150 Supply 120 4 140 110 130 100+ 120 - -.-- 110 100 80 70 - so 30 10 11 12 13 14 15 16 17 18 19 20 21 23 23 24 25 Quantity for Demand 2 4 5 6 8 10 12 14 16 18 20 22 24 526 28 30 Quantity At a price of $70, producer surplus is When the price is $110 the quantity exchanged is 7. If the government sets the price at $110, CS will decrease by O $175 $50 O $75 O $100 O $15 O $150 O $140 O $160