Refer to the exhibit. Suppose that the government imposes a price ceiling at a price of $12. The result would be a ________________ of _____________ units of good Z.
Price of Good Z
Quantity Demanded
Quantity Supplied
$10
300
160
12
250
180
14
200
200
16
150
220
a. surplus, 70
b. surplus, 20
c. shortage, 70
d. shortage, 20