How will a price ceiling affect producers?
a. Lower cost producers will be forced from the market.
b. Higher cost producers will receive a higher price for each unit they sell.
c. Lower cost producers will remain in the market, but will receive less for each unit.
d. Higher cost producers will receive a transfer of surplus from consumers.
c. Lower cost producers will remain in the market, but will receive less for each unit.
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You earn $500 a month, currently have $200 in currency, $100 in your checking account, $2,000 in your savings accounts, $3,000 worth of illiquid assets and $1,000 of debt. You have
A) money = $300, annual income = $6,000, and wealth = $5,000. B) money = $2,300, annual income = $6,000, and wealth = $5,000. C) money = $300, annual income = $6,000, and wealth = $4,300. D) money = $200, annual income = $500, and wealth = $4,300.
Sixty years after the signing of GATT and following eight completed round of trade negotiations,
A) trade barriers are no longer an issue. B) trade barriers have been successfully reduced. C) trade barrier have actually increased. D) there has been no real change in trade barrier.