The following equations represent the quantity demanded (Qd) and the quantity supplied (Qs) for headphones: Qd = 200-2P and Qs = 3P. Suppose that the government imposes a price ceiling of $30 on headphones. Will there be a surplus or a shortage in the market for headphones? How large will it be? This ceiling is nonbinding. The market is in equilibrium. OIt cannot be determined. o There is a surplus of 50 sets. There is a shortage of 50 sets.

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