In a competitive market, the market demand is Qd = 60 ?6P and the market supply is Qs = 4P. A price ceiling of $4 will result in A. A shortage of 18 units. B. A shortage of 20 units. C. A surplus of 30 units. D. A surplus of 12 units. E. Neither a surplus nor a shortage.

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In a competitive market, the market demand is Qd = 60 ?6P and the market supply is Qs = 4P. A price ceiling of $4 will result in   A. A shortage of 18 units.  B. A shortage of 20 units.  C. A surplus of 30 units.  D. A surplus of 12 units.  E. Neither a surplus nor a shortage.

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