When a price ceiling is imposed below the equilibrium price of a commodity,
a. quantity supplied will be greater than quantity demanded for the good.
b. the problem of scarcity will be solved.
c. a shortage of the good will develop.
d. a surplus of the good will develop.
C
Economics
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Marginal cost is the ____________ cost of producing one additional unit and marginal revenue is the_____________ revenue of selling an additional unit
a. Incremental, Incremental b. Total, Incremental c. Incremental, Total d. Total, Total
Economics
Because of the free-rider problem,
a. private markets tend to undersupply public goods. b. the federal government spends too many resources on national defense and not enough resources on medical research. c. fireworks displays have become increasingly dangerous. d. poverty has increased.
Economics