Quantity DemandedPriceQuantity Supplied52$5073624562724051823542923033If government set a maximum price of $45 in the above market:
A. a surplus of 21 units would arise.
B. a shortage of 21 units would arise.
C. it would not change the free market equilibrium.
D. a surplus of 40 units would arise.
Answer: C
Economics
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If the exchange rate value of one U.S. dollar changes from 120 Japanese yen to 140 yen,
a. the U.S. dollar has appreciated relative to the yen. b. the Japanese yen has depreciated relative to the dollar. c. the U.S. dollar has depreciated relative to the yen. d. both a and b have occurred.
Economics
A competitive market will typically experience entry and exit until accounting profits are zero
a. True b. False Indicate whether the statement is true or false
Economics