Price ceilings are imposed if the government:
A) believes that the market will not achieve an equilibrium price.
B) wants to provide 'essential service'.
C) wants to spend money.
D) wants producers to increase the supply.
Correct Answer:
Verified
Q25: There was an extensive black market (illegal
Q26: If the government prevents the market price
Q27: Narrbegin Exhibit 4.2 Supply and demand curves
Q28: Narrbegin Exhibit 4.4 Demand and supply curves
Q31: Price ceiling is:
A) any price above market
Q32: Narrbegin Exhibit 4.3 Demand and supply curves
Q33: If the equilibrium price of good X
Q34: Narrbegin Exhibit 4.4 Demand and supply curves
Q69: A price floor is:
A) the lowest price
Q79: One likely result of a price ceiling
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