Which of the following is NOT a predictable result of a price ceiling set below the market clearing price?
A) an illegal market in the good
B) excess quantity supplied
C) excess quantity demanded
D) lines to purchase the product

Question

Quizplus · Accepted Answer

A price ceiling set below the market clearing price typically results in excess quantity demanded rather than excess quantity supplied, as suppliers are not willing to produce as much at the lower price. This can also lead to illegal markets, lines for the product, and shortages.

Which of the Following Is NOT a Predictable Result of a Price