Refer to the following graph. If the price is set at Pc:
A) a nonprice rationing mechanism must determine which producers will be able to sell the product.
B) a nonprice rationing mechanism must determine which buyers will be able to purchase the product.
C) anyone willing and able to pay the asking price will be able to purchase the product.
D) the demand curve will shift to the left to achieve a new equilibrium.

Question

Refer to the following graph.  If the price is set at Pc:
A) a nonprice rationing mechanism must determine which producers will be able to sell the product. 
B) a nonprice rationing mechanism must determine which buyers will be able to purchase the product. 
C) anyone willing and able to pay the asking price will be able to purchase the product. 
D) the demand curve will shift to the left to achieve a new equilibrium.

Quizplus · Accepted Answer

The Answer of Refer to the following graph.  If the price is set at Pc:
A) a nonprice rationing mechanism must determine which producers will be able to sell the product. 
B) a nonprice rationing mechanism must determine which buyers will be able to purchase the product. 
C) anyone willing and able to pay the asking price will be able to purchase the product. 
D) the demand curve will shift to the left to achieve a new equilibrium.

Refer to the Following Graph