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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 197 times)

fasfsadfdsfa

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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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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

Bigfoot1984

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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