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Use the following table to answer the next four questions: Quantity Demanded Price ($) Quantity Supplied 5 7 9 6 6 8 7 5 7
Use the following table to answer the next four questions: Quantity Demanded Price ($) Quantity Supplied 5 7 9 6 6 8 7 5 7 8 4 6 9 3 5 10 2 4 11 1 3 Which of the following statements is true? Multiple Choice A price cap of $6 is binding A price cap of $4 is non-binding A price cap of $4 would result in a shortage of 2 units A price cap of $6 would result in a surplus of 2 units
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