The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5

-Refer to Table 3.5.
If government imposes a price ceiling of $4:

Question

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5

-Refer to Table 3.5.
If government imposes a price ceiling of $4:

Quizplus · Accepted Answer

A price ceiling of $4 will not have an effect if the equilibrium price is below $4, as the market will naturally operate at the equilibrium price without interference.

The Table Given Below Reports the Quantity Demanded and Supplied