This topic contains a solution. Click here to go to the answer

Author Question: If a government imposed price ceiling legally sets the price of beef below market equilibrium, which ... (Read 152 times)

moongchi

  • Hero Member
  • *****
  • Posts: 516
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
Answer to Question 1

d

Answer to Question 2

d




moongchi

  • Member
  • Posts: 516
Reply 2 on: Jun 30, 2018
Gracias!


ryansturges

  • Member
  • Posts: 338
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

Approximately 25% of all reported medication errors result from some kind of name confusion.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

For a complete list of videos, visit our video library