Assume a ceiling price is set above the equilibrium price. The eventual result is a shortage
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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In the long run, a monopolistically competitive firm that trades internationally ____________ than it would in autarky.
a. will produce more output b. will earn more monopoly profits c. will have higher average costs d. will produce more output and earn more monopoly profits
Economics
If markets are left to their own devices, the ________ a good or service is desired by buyers, the ________ its price will be
A) more; higher B) more; lower C) less; higher D) less; more unstable
Economics