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 142 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
Gracias!

nyrave

  • Member
  • Posts: 344
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Did you know?

Over time, chronic hepatitis B virus and hepatitis C virus infections can progress to advanced liver disease, liver failure, and hepatocellular carcinoma. Unlike other forms, more than 80% of hepatitis C infections become chronic and lead to liver disease. When combined with hepatitis B, hepatitis C now accounts for 75% percent of all cases of liver disease around the world. Liver failure caused by hepatitis C is now leading cause of liver transplants in the United States.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

It is important to read food labels and choose foods with low cholesterol and saturated trans fat. You should limit saturated fat to no higher than 6% of daily calories.

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Michelangelo, The Creation of Adam (restored), ceiling of the Sistine Chapel. Michelangelo, The Creation of Adam (restored), ceiling of the Sistine Chapel.
Main Hall, Trajan's Market Main Hall, Trajan's Market
Beef Prime Rib Beef Prime Rib
Kinesthesis and Equilibrium Kinesthesis and Equilibrium
An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ... An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ...
Video: Nerve Impulse Transmission Animation

For a complete list of videos, visit our video library