A concerned president approaches congress and congress


The following table presents the supply and demand schedules for volleyballs. There are protests, and volleyball supporters march on Washington to demand that volleyballs be made more affordable. A concerned President approaches Congress, and Congress repeals its policy of a price floor for volleyballs and imposes a price ceiling of $9 ($1 below the former price floor of $10). What are the consequences of this price ceiling?

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Macroeconomics: A concerned president approaches congress and congress
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