QUESTION 11 4 points Save Answer Pleae refer to the folowing

QUESTION 11 4 points Save Answer Pleae refer to the folowing table descrbing the market for staplers. If a price floor of $15 were imposed in this market, what would be the most likely outcome? Quantity PriceDemanded 9 125 100 $10 $15 $25 $30 The market would clear 100 125 A shortage of 50 units would occur O A shortage of 100 units would occur surplus of 50 units would occur

Solution

At price floor, p= 15, quantity demanded is 100 and quantity supplied is 50

Since quantity demanded is greater than quantity supplied, there is a shortage of 100-50= 50

A shortage of 50 units will occur- is correct