Question: Suppose demand for comedy show tickets is given by P = 50 - Q and the supply for comedy show tickets is given by P

Suppose demand for comedy show tickets is given by P = 50 - Q and the supply for comedy show tickets is given by P =10 + 4Q. Suppose a tax of $38 is levied. What would be the outcome of this ceiling price?

A) 8 ticket shortage

B) 5 ticket surplus

C) 8 ticket surplus

D) 5 ticket shortage

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