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

Author Question: If the government imposes a price ceiling for some product, and a hidden market subsequently ... (Read 60 times)

xjustxicex

  • Full Member
  • ***
  • Posts: 144
If the government imposes a price ceiling for some product, and a hidden market subsequently develops that gains control of all of the reduced output of the product, then
◦ the hidden market price will be lower than the ceiling price.
◦ consumers will be better off than they would be in the absence of the hidden market.
◦ the quantity demanded will exceed quantity supplied at the hidden market price.
◦ the hidden market price will be higher than the free-market equilibrium price.
◦ excess profits will flow back to consumers.


Related Topics

Need homework help now?

Ask unlimited questions for free

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

Sophia0717

  • Full Member
  • ***
  • Posts: 162
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




xjustxicex

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
Wow, this really help


Hdosisshsbshs

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

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?

IgA antibodies protect body surfaces exposed to outside foreign substances. IgG antibodies are found in all body fluids. IgM antibodies are the first type of antibody made in response to an infection. IgE antibody levels are often high in people with allergies. IgD antibodies are found in tissues lining the abdomen and chest.

For a complete list of videos, visit our video library