Homework Clinic
Social Science Clinic => Economics => Topic started by: fasfsadfdsfa on Jun 29, 2018
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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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Answer to Question 1
B
Answer to Question 2
B