If the government imposes a price ceiling below the market equilibrium price, then:
a. c and d.
b. there will be excess supply.
c. there will be excess demand.
d. the intent is to benefit consumers.
e. the intent is to benefit producers.
a
Economics
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The quantity of labor demanded depends on the
A) money wage rate not the real wage rate. B) real wage rate not the money wage rate. C) price of output not the money wage rate nor the real wage rate. D) money wage rate AND the real wage rate.
Economics
The market structure of perfect competition exists when
A) there are a small number of interdependent firms that constitute the entire market. B) there is a single producer of a product. C) there are many producers of differentiated products. D) there are many producers of a homogeneous product.
Economics