Author Question: In the above figure, a price ceiling of 2 would A) create a shortage. B) create a surplus. C) ... (Read 87 times)

Coya19@aol.com · **on:** Jun 29, 2018

In the above figure, a price ceiling of 2 would

A) create a shortage.
B) create a surplus.
C) have no effect.
D) cause the demand curve to shift leftward.

Question 2

An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a

A) legal monopoly.
B) natural monopoly.
C) single-price monopoly.
D) one-firm monopoly.