Price controls:
a. are always popular with consumers because they lower prices.
b. create shortages.
c. increase producer surplus because firms can now sell a greater quantity of a good at a lower price.
d. are necessary to preserve equity.
b
Economics
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In the figure above, the line of equality is
A) curve A. B) curve B. C) curve C. D) curve D.
Economics
Joey cuts grass during the summer. He owns one lawn mower. For him, the short run is equal to
A) the amount of time it takes to acquire more customers. B) the amount of time it takes to hire an additional employee. C) the amount of time it takes to hire an additional employee and buy another lawn mower. D) the amount of time it takes to mow one lawn.
Economics