Price ceilings are never binding when set above the equilibrium price
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Trade agreements help to lower barriers to trade
a. True b. False
Economics
Refer to Figure 9.1. Suppose the market is currently in equilibrium. If the government establishes a price ceiling of $20, consumer surplus will
A) fall by $200. B) fall by $300. C) remain the same. D) rise by $200. E) rise by $300.
Economics