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Price (dollars per jacket 150 140 130 120 110 K Price ceiling 100 90 D 0 100 150 200 250 300 350 400 Quantity (thousands
Price (dollars per jacket 150 140 130 120 110 K Price ceiling 100 90 D 0 100 150 200 250 300 350 400 Quantity (thousands of jackets) The above figure shows the market for winter jackets. In an effort to keep the nation warm, the president places a price ceiling of $100 in the market for winter jackets. As a result, there is a Select one: A. shortage equal to 150,000 jackets. O B. shortage equal to 250,000 jackets. O C. surplus equal to 150,000 jackets. O D. shortage equal to 100,000 jackets. O E. surplus equal to 300,000 jackets
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