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 150 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
Wow, this really help

amynguyen1221

  • Member
  • Posts: 355
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

cheat sheet for cuts of beef. cheat sheet for cuts of beef.
Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called Earth’s history is divided into nested sets of time--eons, eras, periods, and epochs--and is called
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
Beef Prime Rib Beef Prime Rib
The price of rice in a small country is currently $6 per pound. In order to help low-income ... The price of rice in a small country is currently $6 per pound. In order to help low-income ...
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Endocytosis -Types and Phagocytosis

For a complete list of videos, visit our video library