One likely result of a price ceiling is that
A) an excess supply of the good results
B) the price would be above the equilibrium price
C) the price would be the equilibrium price
D) the good must be rationed
E) the supply curve shifts to the right
Correct Answer:
Verified
Q70: Q71: Q72: Q73: Governments typically intervene in markets Q74: If a price ceiling is imposed, Q76: To ration a good means that Q77: If a good is rationed, we can Q78: An excess demand in a market implies Q79: One method of addressing an excess demand Q80: A ration coupon is generally used Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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