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Pages File Edit Insert Format Arrange Share Window Help G Q Mon Mar 14 2:06 PM ECON 202 DPAB.docx, Midterm Exam Part II - Edited 125% v + A View Zoom . d Page Insert Table Chart Text Shape Media Comment Collaborate Format Document 16 Underling work must be shown to earn full credit. (15 points) NAL/ POLITICAL OGRAPHY DUE 03/ P Supply A N Demand 40 80 120 160 D. Refer to the graph above. The effective price ceiling at $2 increases the amount of a product that consumers buy to 120 units, therefore all consumers in this market are better off with the price ceiling at $2. Briefly explain your choice of answer. TRUE ( FALSE ( E. Refer to the graph above. With an effective price ceiling at $2, the reduction in economic surplus and market efficiency would be: A) O. B) 160 C) 40 D) 80 F. Refer to your answer above. How the market efficiency can be restored? 52 27 MAR 1 14 A