Say that the equilibrium price of natural gas would be $5 per thousand cubic feet, but there is a price ceiling imposed at $3 per thousand cubic feet. That price ceiling is then lowered to $2 per thousand cubic feet. As a result,
a. the shortage of natural gas will get worse
b. the shortage of natural gas will get less severe.
c. the surplus of natural gas will get worse.
d. the surplus of natural gas will get less severe.
a
Economics
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(a) greater inequality. (b) lower fertility. (c) less international migration. (d) more job creation.
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"Price fixing" is always illegal
Indicate whether the statement is true or false
Economics