If the government set a price ceiling at $8
A) there would be a temporary surplus,then prices would fall to equilibrium.
B) there would be a permanent surplus,at least until the price floor was lifted.
C) the price would fall back to the equilibrium price.
D) the price floor would not have any effect on this market.
Correct Answer:
Verified
Q136: Which statement is true?
A)An effective price ceiling
Q137: What happens to quantity supplied when the
Q138: What happens to quantity demanded when price
Q139: Which situation below would represent a shortage
Q140: If the price system is allowed to
Q142: As price falls,quantity supplied
A)rises.
B)falls.
C)remains the same.
Q143: If the government imposes a maximum price
Q144: If the government set a price floor
Q145: Usury laws are a form of price
Q146:
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