If a price ceiling is set below the market equilibrium price, which of the following outcomes is most likely to occur? Group of answer choices A) A surplus of the good in the market B) An increase in the quantity supplied of the good C)A shortage of the good in the market D) The market will clear at the new price
If a price ceiling is set below the market equilibrium price, which of the following outcomes is most likely to occur? Group of answer choices A) A surplus of the good in the market B) An increase in the quantity supplied of the good C)A shortage of the good in the market D) The market will clear at the new price
Chapter4: Markets In Action
Section: Chapter Questions
Problem 3SQ
Related questions
Question
If a
Group of answer choices
A) A surplus of the good in the market
B) An increase in the quantity supplied of the good
C)A shortage of the good in the market
D) The market will clear at the new price
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