Which of the following is true?
i.A price ceiling set above the equilibrium price has no effects.
ii.A price ceiling set below the equilibrium price creates a surplus.
iii.A price floor set above the equilibrium price has no effects.
A) Only i
B) Only ii
C) Only iii
D) i and ii
E) ii and iii

Question

Quizplus · Accepted Answer

A price ceiling set above the equilibrium price has no effects because it does not interfere with the market equilibrium.

Which of the Following Is True