« previous next »

Author Question: Which of the following is correct when a price is set below a market's equilibrium price? a. ... (Read 42 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
on: Jul 1, 2018
Which of the following is correct when a price is set below a market's equilibrium price?
 a. quantity demanded exceeds quantity supplied at the set price
  b. quantity demanded is less than quantity supplied at the set price
  c. quantity demanded is equal to quantity supplied at the set price
  d. at the set price there is a surplus
  e. the market price is less than the ceiling price

Question 2

Suppose a market is in equilibrium and then a price ceiling is established below the equilibrium price. Which of the following will happen?
 a. quantity demanded will decrease
  b. a surplus will develop
  c. a shortage will develop
  d. the quantity sold will rise
  e. the market will remain in equilibrium


macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
Reply #2 on: Jul 1, 2018
Correct answers!


macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

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.

Many types of edible fungi are grown for the market. Many types of edible fungi are grown for the market.
Sequential blending uses a computer to calculate the correct ratio as well as the prescribed order ... Sequential blending uses a computer to calculate the correct ratio as well as the prescribed order ...
How to choose the correct u and dv when you integrate by parts How to choose the correct u and dv when you integrate by parts
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
Kinesthesis and Equilibrium Kinesthesis and Equilibrium
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Video: Role of the respiratory system - effect of altered ventilation rates

For a complete list of videos, visit our video library