If the price of a dozen eggs were fixed above the current price,then we would expect
A) an increase in the number of eggs people want to buy and an increase in the number of eggs farmers want to sell.
B) an increase in the number of eggs people want to buy and a decrease in the number of eggs farmers want to sell.
C) a decrease in the number of eggs people want to buy and an increase in the number of eggs farmers want to sell.
D) a decrease in the number of eggs people want to buy and a decrease in the number of eggs farmers want to sell.

Question

Quizplus · Accepted Answer

If the price is fixed above the current price, it is above the equilibrium price, leading to a surplus. Consumers will buy fewer eggs due to the higher price, while farmers will want to sell more due to the higher potential revenue.

If the Price of a Dozen Eggs Were Fixed Above