This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If a government imposed price ceiling legally sets the price of beef below market equilibrium, which ... (Read 115 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
on: Jun 30, 2018
If a government imposed price ceiling legally sets the price of beef below market equilibrium, which of the following will most likely happen?
 a. The quantity of beef demanded will decrease.
  b. The quantity of beef supplied will increase.
  c. There will be a surplus of beef.
  d. There will be a shortage of beef.

Question 2

A price ceiling that sets the price of a good below market equilibrium will cause:
 a. An increase in quantity demanded of the good.
  b. A decrease in quantity supplied of the good.
  c. A shortage of the good.
  d. All of these.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

wfdfwc23

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

FergA

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Limit intake of red meat and dairy products made with whole milk. Choose skim milk, low-fat or fat-free dairy products. Limit fried food. Use healthy oils when cooking.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

The world attempted to deal with Somalia as if it were a real country but painfully learned that Som The world attempted to deal with Somalia as if it were a real country but painfully learned that Som
Strength Gains: Based on Sets and Repetitions Strength Gains: Based on Sets and Repetitions
Kinesthesis and Equilibrium Kinesthesis and Equilibrium
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
What will be the pH of the solution once equilibrium is established? What will be the pH of the solution once equilibrium is established?
BBQ beef Stake with veggies and burger BBQ beef Stake with veggies and burger
Video: Sex-Linked Traits! How are eye colors inherited in fruit flies?

For a complete list of videos, visit our video library