A price ceiling is a________ legal price set by the government that causes a________ in the market.
A) minimum; surplus
B) maximum; surplus
C) minimum; shortage
D) maximum; shortage
Correct Answer:
Verified
Q154: If the government removes the surplus that
Q155: In product market, households _the product and
Q156: A technological advancement in the production of
Q157: If both the demand and the supply
Q158: The labor supply curve is_ sloping because
Q160: A price floor_ .
A)causes a surplus in
Q161: As a result of a change in
Q162: The minimum wage_ .
A)makes the equilibrium wage
Q163: All of the following are true for
Q164: A price ceiling is set above the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents