What can we conclude if consumers are forced to wait in long line-ups in order to purchase products such as food and fuel?
A) That the price of these items is at equilibrium.
B) That price is operating effectively as a rationing mechanism.
C) That producers are producing more than people want.
D) Producers would be willing to produce more if price were allowed to rise.
Correct Answer:
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Q21: Q22: Q23: What is meant by rationing? Q24: Q25: Price floors are often introduced in agricultural Q27: What is a price floor? Q28: All of the following,except one,describes a minimum Q29: What is the term for a market Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()
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A)A government regulation