If the government sets a price ceiling of $4, market forces will cause: a. the quantity demanded to drop and the quantity supplied to rise.
b. a shortage will exist. a surplus will exist.
c. market forces will cause demand to drop and supply to rise.
d. market forces will cause supply to drop and demand to rise.

The table for the question is in the attachment.

b. a shortage will exist.

Explanation:

Considering the table from the diagram, it shows that, when the price of Refrigerator Magnet is at 4 dollars, the Quantity demanded is 9, while the Quantity supplied is 4. This equates that, there is shortage of 5 in quantity supplied.

In other words, at the price of 4 dollars, the Quantity demanded is greatee than the Quantity supplied by 5.

Hence, the correct answer is B. A shortage will exist.

answer; /// the above statement is (true);