Suppose a market is in equilibrium and then a price ceiling is established below the equilibrium price. Which of the following will happen?
a. quantity demanded will decrease
b. a surplus will develop
c. a shortage will develop
d. the quantity sold will rise
e. the market will remain in equilibrium
C
Economics
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In the figure above, international trade ________ consumer surplus in the United States by ________
A) decreases; $2.88 billion B) decreases; $1.92 billion C) increases; $2.88 billion D) increases; $4.8 billion
Economics
Ron spends $150 on movie tickets and pizza. The price of a pizza is $10 and a movie ticket is $7.50
With the quantity of movies measured along the vertical axis, the slope of Ron's budget line (with movies on the vertical axis) is ________ per pizza A) 1.33 movies B) -1.33 movies C) 0.75 of a movie D) -0.75 of a movie
Economics