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Author Question: Suppose the market clearing price is 20 and the price ceiling is 15. The price that prevails in the ... (Read 217 times)

asan beg

  • Hero Member
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  • Posts: 570
on: Jun 29, 2018
Suppose the market clearing price is 20 and the price ceiling is 15. The price that prevails in the market will be
 
  A) 20.
  B) 15.
  C) less than 15.
  D) 0.

Question 2

An outward bowed production possibilities curve illustrates
 
  A) inefficient production.
  B) the law of increasing additional cost.
  C) a lack of scarcity.
  D) zero opportunity cost of moving from inefficient production to currently unobtainable production.


shaquita

  • Sr. Member
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  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

B


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