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

Author Question: In a competitive market, a legal price ceiling set above the free-market equilibrium price will result in (Read 130 times)

Deej

  • Full Member
  • ***
  • Posts: 144

Question 1

In a market where we observe a disequilibrium, quantity exchanged is determined by
◦ the quantity supplied.
◦ the quantity demanded.
◦ the greater of quantity demanded and quantity supplied.
◦ neither quantity demanded nor quantity supplied.
◦ the lesser of quantity demanded and quantity supplied.

Question 2

In a competitive market, a legal price ceiling set above the free-market equilibrium price will result in
◦ a new free-market equilibrium at a higher price and lower output level.
◦ a continuation of the free-market equilibrium price and quantity.
◦ the quantity demanded exceeding quantity supplied and thus a shortage in the market.
◦ the quantity supplied exceeding quantity demanded and thus a surplus in the market.
◦ increased profits to the firms in the industry.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by Deej on Oct 12, 2022

mamboz

  • Full Member
  • Posts: 170
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 56% of students answer this correctly




Deej

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
Gracias!


CAPTAINAMERICA

  • Member
  • Posts: 325
Reply 3 on: Yesterday
Excellent

 

Did you know?

People about to have surgery must tell their health care providers about all supplements they take.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

Adolescents often feel clumsy during puberty because during this time of development, their hands and feet grow faster than their arms and legs do. The body is therefore out of proportion. One out of five adolescents actually experiences growing pains during this period.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

For a complete list of videos, visit our video library