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Question 7 1 pts Refer to the figure below. If the government set a price ceiling of $40, there would be: TTTT 4 8 12 16 20 2
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Answer : 16 units sold

Price ceiling is the limit imposed by government on how much the price of a commodity should increase. Above that level, price should not be increased. Price ceiling are usually set by government when the price charged by the seller become unaffordable to regular consumers. Here from the graph it can be understood that when the price ceiling is $40, 16 units are sold.

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