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Suppose that market demand for reusable cups is given by Q = 24 - 2P and the market supply of reusable cups is equal to
Suppose that market demand for reusable cups is given by Q = 24 - 2P and the market supply of reusable cups is equal to Q = -8 + 2P. The government imposes a mandatory price floor of $9 a reusable cup. The result is
Group of answer choices
A.equilibrium at $8, no shortage or surplus.
B.a shortage of 6 reusable cups.
C.a surplus of 4 reusable cups.
D.a surplus of 6 reusable cups.
E.a shortage of 4 reusable cups.
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