If a price ceiling is a binding constraint on a market, then
a. the equilibrium price must be below the price ceiling.
b. the quantity supplied must exceed the quantity demanded.
c. sellers cannot sell all they want to sell at the price ceiling.
d. buyers cannot buy all they want to buy at the price ceiling.
d
Economics
You might also like to view...
Diminishing marginal returns lead to diminishing returns
A) when marginal returns fall but remain positive. B) only in theory. C) when marginal returns become negative. D) when labor exceeds capital.
Economics
Money is a concept that has a certain value at a point in time
a. True b. False Indicate whether the statement is true or false
Economics