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The graph below shows the market for widgets. Suppose the government imposes a price ceiling at $10. Which of the following is a likely consequence

The graph below shows the market for widgets.

Suppose the government imposes a price ceiling at $10. Which of the following is a likely consequence of that policy?

A) Nothing happens as the price ceiling is below the equilibrium price.

B) A shortage of about 15 widgets develops at the new price of $10.

C) A surplus of about 15 widgets develops at the new price of $10.

D) None of the above.

EXPLAIN BRIEFLY IN TYPED ANSWER ONLY NOT IN HAND WRITTEN

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