When the government controls the price of a product, causing the market price to be above the free market equilibrium price,
A. some, but not all, sellers can find buyers for their goods.
B. only consumers gain.
C. both producers and consumers gain.
D. all producers gain.
A. some, but not all, sellers can find buyers for their goods.
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Countries that trade a small amount with a single foreign country tend to float their exchange rate to the foreign country's currency
Indicate whether the statement is true or false
The price elasticity of demand is
A) always positive, so there is no reason to consider the absolute value of the price elasticity of demand. B) always negative, but by convention, economists typically express the price elasticity of demand as an absolute value. C) always equal to -1, which by convention economists typically express as an absolute value, or 1. D) always equal to zero, so there is no reason to consider the absolute value of the price elasticity of demand.