If a legal ceiling price causes the quantity of a good demanded to be greater than the quantity supplied
A) competition among both buyers and sellers is prevented.
B) competition among buyers is prevented.
C) competition among sellers is prevented.
D) competition among buyers will raise the nonmonetary costs of obtaining the good.
D
Economics
You might also like to view...
Refer to Table 20.1. The income tax in Oceania is
A) progressive. B) regressive. C) proportional. D) a flat tax.
Economics
If a perfectly competitive firm is operating in long-run equilibrium and market demand suddenly falls, the short-run result will be
a. greater economic profit b. a normal profit c. lower average total cost d. lower average variable cost e. an economic loss
Economics