Which of the following is an effect of a price ceiling set below the equilibrium price?
A) Less of the good is produced with the ceiling than would be produced without the ceiling.
B) The price ceiling has no effect on the market equilibrium.
C) Consumers can buy more than they can at the equilibrium price because the ceiling price is lower.
D) None of the above answers is correct.
A
Economics
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In the above figure, if there is a negative relationship between the variables x and y, which of the graphs above can be used to indicate this?
A) Figure A B) Figure B C) Figure C D) both Figure A and Figure C
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Survivability in a perfectly competitive world requires that
A) firms minimize average total cost. B) firms produce new and different products. C) firms maximize profit. D) firms maximize revenue.
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