Suppose at the current price, the demand for copper is estimated at -3.14.What happens to sales revenue if the government imposes a price ceiling below the free market equilibrium price in the copper market?
A)Sales revenue falls.
B)Sales revenue rises.
C)Sales revenue remains unchanged because copper is a necessity for most industries.
D)It cannot be determined without information on prices.

Question

Quizplus · Accepted Answer

The Answer of Suppose at the current price, the demand for copper is estimated at -3.14.What happens to sales revenue if the government imposes a price ceiling below the free market equilibrium price in the copper market?
A)Sales revenue falls.
B)Sales revenue rises.
C)Sales revenue remains unchanged because copper is a necessity for most industries.
D)It cannot be determined without information on prices.

Suppose at the Current Price, the Demand for Copper Is