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Author Question: When is a price ceiling ineffective? What will be an ideal ... (Read 12 times)

rmenurse

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on: Jun 29, 2018
When is a price ceiling ineffective?
 
  What will be an ideal response?

Question 2

People who run their own businesses
 
  A) can keep their labor costs down by not hiring any employees.
  B) have lower labor costs if they dislike working for anyone else than if they don't mind working for others.
  C) have no labor costs unless the business is incorporated.
  D) have the same labor costs as people who hire employees to run their businesses.


DHRUVSHAH

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A price ceiling is ineffective when the market price of the good lies below the price ceiling.

Answer to Question 2

B


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