Draw a correctly annotated demand/supply graph


Assignment task: Toward the end of the life of the Soviet Union, the government allowed a limited experimentation with free enterprise. One of the areas in which Soviet citizens could carry out a business startup was in baked goods. Still, these bakeries were not allowed by the government to charge more than one ruble per loaf of bread, even though the market clearing price was at 2.5 rubles. Draw a correctly annotated demand/supply graph that accurately reflects this scenario. List equilibrium price as Pe and equilibrium quantity as Qe. State the result of this policy - surplus or shortage and accurately reflect that on your graph with properly labeled price and quantity depictions. Embed pic or insert chart here.

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Microeconomics: Draw a correctly annotated demand/supply graph
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