Question 1 0.5 pts Figure 6-2 Supply Price ceiling Refer to Figure 6-2. The price ceiling Q is binding. Q causes a shortage. Q causes the quantity demanded to exceed the quantity supplied. Q All of the above are correct. Question 2 0.5 pts Figure 6-5 sun 120 . 180 Quanlity 7a 160 Refer to Figure 6-5. If the horizontal line on the graph represents a price ceiling, then the price ceiling is Q binding and creates a surplus of 40 units of the good. 0 binding and creates a surplus of 90 units of the good. 0 not binding but creates a surplus of 40 units of the good. Q not binding, and there will be no surplus or shortage of the good. Question 3 0.5 pts Figure 6-6 \"4-0-60 10 20 30 40 50 60 10 30 \"may Refer to Figure 6-6. If the government imposes a price ceiling of $8 on this market, then there will be Q no shortage. Q a shortage of 10 units. 0 a shortage of 20 units. 0 a shortage of 40 units. Question 4 0.5 pts Figure 6-5 sun 120 I 18!] Quantity 70 160 Refer to Figure 6-5. If the horizontal line on the graph represents a price oor, then the price floor is 0 binding and creates a shortage of 40 units of the good. 0 binding and creates a surplus of 50 units of the good. 0 binding and creates a surplus of 90 units of the good. 0 not binding but creates a surplus of 40 units of the good