In the graph above, a government imposed price of $10 represents a price _____ and there is a _____.
A. floor; surplus
B. floor; shortage
C. ceiling; surplus
D. ceiling; shortage
D. ceiling; shortage
You might also like to view...
The schedules in the table give the marginal social benefit and marginal social cost of a DVD. If the number of DVD produced is cut to 2 a week, then the ________
A) minimum supply-price of the second DVD is $18 B) price is $18 a DVD C) opportunity cost of the second DVD is $22 D) value of the second DVD is $20
All else constant, a decrease in the supply of money will lead to
A) an increase in the equilibrium quantity of money and an increase in the equilibrium price of bonds. B) an increase in the equilibrium quantity of money and a decrease in the equilibrium price of bonds. C) a decrease in the equilibrium quantity of money and an increase in the equilibrium price of bonds. D) a decrease in the equilibrium quantity of money and a decrease in the equilibrium price of bonds