2 ( B) Day care for children is a competitive industry in long-run equilibrium at a price of $60 per day, in an effort to make day care more affordable for a larger number offamilies, the government passes a law that limits the amount day care providers can charge to $45 per day. As a result of this price ceiling.A. the supply of day care services falls and causes price to fall below $45 per day.B. the demand for day care increases and causes price to rise above the original $60 per day.C. the demand for day care increases and many new day care centers are ostablished.OD. parents have a more difficult time finding day care providers for their children.:>

The maximum price that is set by the government for a particular commodity and services is called…

Day care for children is a competitive industry in long-run equilibrium at a price of S60 per day. In an effort to make day care more affordable for a larger number of families, the government passes a law that limits the amount day care providers can charge to $45 per day. As a result of this price celing. OA the supply of day care services falls and causes price to fall below $45 per day. OB. the demand for day care increases and causes price to rise above the original S0 per day. C. the demand for day care increases and many new day care centers are established. OD. parents have a more dificut time finding day care providers for their children.

Day care for children is a competitive industry in long-run equilibrium at a price of S60 per day. In an effort to make day care more affordable for a larger number of families, the government passes a law that limits the amount day care providers can charge to $45 per day. As a result of this price celing. OA the supply of day care services falls and causes price to fall below $45 per day. OB. the demand for day care increases and causes price to rise above the original S0 per day. C. the demand for day care increases and many new day care centers are established. OD. parents have a more dificut time finding day care providers for their children.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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