Suppose the supply of houses is completely inelastic at 100 units and the demand is Q=200-4P. If the government sets a price ceiling at $10 below the equilibrium price, then:

Group of answer choices

There will be a shortage (excess demand) of 40 units.

There will be a shortage (excess demand) of 140 units.

There will be a surplus (excess supply) of 120 Units.

As supply is inelastic, the price ceiling will be ineffectual.