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Tina What is the amount of the shortage? In other words, by how much does quantity demanded exceed quantity supplied? Candace Happy Economics Mentor That

Tina

What is the amount of the shortage? In other words, by how much does quantity demanded exceed quantity supplied?

Candace

Happy Economics Mentor

That is correct!

Candace

Ugh! That price ceiling isn't good for Bamboo Shoots at all!

Tina

Can you elaborate? Specifically, what is Bamboo Shoots' producer surplus with the price ceiling of $

30

in effect?

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