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The graph below represents the market for eggs during a snow storm. Calculate the shortage caused by the price ceiling. Supply, demand and price ceiling
The graph below represents the market for eggs during a snow storm. Calculate the shortage caused by the price ceiling. Supply, demand and price ceiling for eggs A supply and a demand curve are shown with a price ceiling at $4. Equilibrium price is $10 and equilibrium quantity is 1,000 cartons of eggs. The quantity demanded at the price ceiling is 1,375 and quantity supplied is 520. Provide your answer below
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