« previous next »

Author Question: Which of the following is correct when a price is set below a market's equilibrium price? a. ... (Read 32 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?

Every 10 seconds, a person in the United States goes to the emergency room complaining of head pain. About 1.2 million visits are for acute migraine attacks.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

The correct statement about hormones-insulin and glucagon The correct statement about hormones-insulin and glucagon
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 ...
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 ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
The Hardy–Weinberg equilibrium for autosomal genes The Hardy–Weinberg equilibrium for autosomal genes
The Hardy–Weinberg equilibrium for two autosomal alleles. The Hardy–Weinberg equilibrium for two autosomal alleles.
Video: Pressure volume relationships - Normal inspiration and expiration

For a complete list of videos, visit our video library