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
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 8SQ
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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