If the government imposes a price ceiling that is above the equilibrium price,then the market will experience

Question

Quizplus · Accepted Answer

If the government imposes a price ceiling above the equilibrium price, it will not have any effect on the market since the equilibrium price is already lower than the price ceiling. Therefore, the market will continue to operate at the equilibrium price, resulting in an equilibrium.

If the Government Imposes a Price Ceiling That Is Above