Question 8 (2 points) What would the result be if a $45.00 price ceiling on portable CD players were Imposed by the government? Annual Supply and Demand for Backpacks (in Thousands) Price Quantity Demanded Quantity Supplied $40.00 14 $42.50 12 $45.00 11 2 $47.50 9 $50.00 $52.50 Ln $55.00 $57.50 $60.00 N 10 $62.50 12 O a a shortage of 9,000 backpacks O b a surplus of 9,000 backpacks O'c 11,000 backpacks supplied Od 2,000 backpacks demanded