Which of the following shifts the supply curve for gasoline rightward?
A) a situation in which the quantity demanded exceeds the quantity supplied
B) an increase in the price of gasoline
C) a decrease in the price of a resource used to produce gasoline, such as crude oil
D) an increase in the demand for gas-guzzling, sport utility vehicles
C
Economics
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In order to have an effect, a price ceiling must be set ________
A) above the equilibrium price B) equal to the equilibrium price C) below the equilibrium price D) by suppliers
Economics
Read Eye on Price Regulation on p. 185 and explain why a mismatch between intention and outcome is inevitable if a price regulation seeks to block the laws of supply and demand
What will be an ideal response?
Economics