A nonbinding price ceiling (i) causes a surplus. (ii) causes a shortage. (iii) is set at a price above the equilibrium price. (iv) is set at a price below the equilibrium price

a. (i) only
b. (iii) only
c. (i) and (iii) only
d. (ii) and (iv) only

b

Economics

You might also like to view...

Which of these is a function that the financial system provides for savers and borrowers?

View
Economics

The supply curve for products that require skilled labor and a large amount of capital is usually_______

Fill in the blank(s) with the appropriate word(s).

View
Economics