When the price ceiling on eggs is lifted, there is a shortage of eggs in the market.

Name: When the price ceiling on eggs is lifted, there is a shortage of eggs in the market.
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Question

Quizplus · Accepted Answer

When the price ceiling on eggs is lifted, the price of eggs will increase, causing suppliers to produce more eggs and consumers to demand fewer eggs. This should lead to an increase in the quantity supplied and a decrease in the quantity demanded, resulting in a surplus of eggs in the market, not a shortage.

When the Price Ceiling on Eggs Is Lifted, There Is