When the government restricts the quantity of a good to zero
A) an underground market develops.
B) there is none of the good available anywhere.
C) people's demand for the product evaporates.
D) producers stop all production.
Answer: A
Economics
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The level of aggregate supply in the long run is not affected by
A) changes in technology. B) changes in the price level. C) changes in the capital stock. D) changes in the number of workers.
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If demand is price elastic, total revenue is
a. directly related to quantity demanded b. inversely related to quantity demanded c. directly related to price d. directly related to price and inversely related to quantity demanded e. not related to either price or to quantity demanded
Economics