Given the associated quantity demanded, 1, and quantity supplied, Q2; which of the following describes the quantity Q2 - Q1?
(1 point)
• the surplus resulting from the price ceiling Pc
O the surplus resulting from the price floor Pc
O the shortage resulting from the price ceiling Pc
• the shortage resulting from the price floor Pc
1 answer
The quantity Q2 - Q1 represents the shortage resulting from the price floor Pc.