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Author Question: Suppose the market clearing price is 15 and the price ceiling is 17. The price that prevails in the ... (Read 129 times)

fasfsadfdsfa

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  • Posts: 554
on: Jun 29, 2018
Suppose the market clearing price is 15 and the price ceiling is 17. The price that prevails in the market will be
 
  A) 17.
  B) 15.
  C) less than 15.
  D) more than 17.

Question 2

Other things being equal, an increase in the price of a good leads to an increase in the amount produced. This is known as
 
  A) the law of demand.
  B) the law of supply.
  C) ceteris paribus.
  D) equilibrium.


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ladyjames123

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

B


fasfsadfdsfa

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  • Posts: 554
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ghepp

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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