Price ceilings Select one: a. may decrease consumer surplus if demand is sufficiently inelastic. b. may decrease consumer surplus if demand is sufficiently elastic. C. cause quantity to be higher than in the market equilibrium. d. always decrease consumer surplus. e. always increase consumer surplus.
Price ceilings Select one: a. may decrease consumer surplus if demand is sufficiently inelastic. b. may decrease consumer surplus if demand is sufficiently elastic. C. cause quantity to be higher than in the market equilibrium. d. always decrease consumer surplus. e. always increase consumer surplus.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Lesson 10 Question 7

Transcribed Image Text:Price ceilings
Select one:
a. may decrease consumer surplus if demand is sufficiently inelastic.
b. may decrease consumer surplus if demand is sufficiently elastic.
C. cause quantity to be higher than in the market equilibrium.
d. always decrease consumer surplus.
e. always increase consumer surplus.
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