Multiple Choice
The purpose of a price ceiling is to keep the actual price charged in a market:
A) above an equilibrium price that is considered too low, and shortages may develop.
B) above an equilibrium price that is considered too low, and surpluses may develop.
C) below an equilibrium price that is considered too high, and shortages may develop.
D) below an equilibrium price that is considered too high, and surpluses may develop.
Correct Answer:
Verified
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