Multiple Choice
If a price ceiling is a binding constraint on the market,
A) the equilibrium price must be below the price ceiling.
B) there is excess supply.
C) sellers cannot sell all they want to sell at the price ceiling.
D) buyers cannot buy all they want to buy at the price ceiling.
Correct Answer:
Verified
Related Questions
Q23: A binding price floor causes
A)excess demand.
B)a shortage.
C)a
Q24: Suppose the government has imposed a price
Q25: When a price floor is binding,the equilibrium
Q26: A price floor is binding if it
A)is
