Macroeconomics 11th Edition by Stephen Slavin

Exercise 23

Before you get started, you'll find it's much easier to answer many of these questions by first sketching a graph of a supply and demand curve. In fact, that graph will help you answer the first four questions.
Circle the letter that corresponds to the best answer.
Market price may not reach equilibrium if there are _____.
a) both price ceilings and price floors
b) neither price ceilings nor price floors
c) only price ceilings
d) only price floors