The city government of Kolkata, the capital city of the Indian state of West Bengal, came under pressure to do something about what residents of the city perceived as price gouging by firms in the market for app-based cabs (Uber, ...). The government responded to the pressure by imposing a price ceiling. The market price was 500 rupees; the government set the price ceiling at 700 rupees. The rupee is the official currency of India. According to the supply and demand model, which of the following is the most likely effect of the price ceiling? Question 3Answer a. A surplus in the market. b. An increase in supply in the market. c. A shortage in the market. d. No change in the market