If government imposes a price ceiling on a good that is below the market equilibrium price Group of answer choices A) a surplus will develop. B) a shortage will develop. C) producers will reduce their sales price. D) consumers will reduce their demand for the good.
If government imposes a price ceiling on a good that is below the market equilibrium price Group of answer choices A) a surplus will develop. B) a shortage will develop. C) producers will reduce their sales price. D) consumers will reduce their demand for the good.
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 government imposes a
Group of answer choices
A) a surplus will develop.
B) a shortage will develop.
C) producers will reduce their sales price.
D) consumers will reduce their demand for the good.
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