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ave Answer Suppose the supply of natural gas is perfectly inelastic, and the price elasticity of demand for natural gas is -0.6. If the government imposes a binding price ceiling for natural gas at a price that is 30 percent below the market equilibrium price, what is the impact of this policy on the market quantit A. Excess demand equals 50 percent of the market equilibrium quantity O B. Excess demand equals 2 percent of the market equilibrium quantity O C. The policy does not affect the market quantity D. Excess demand equals 18 percent of the market equilibrium quantity