Author Question: In the market for eggs, a removal of the price ceiling on eggs results in: a. an increase in the ... (Read 65 times)

jCorn1234 · **on:** Jun 30, 2018

In the market for eggs, a removal of the price ceiling on eggs results in:
a. an increase in the demand for eggs.
b. farmers supplying more eggs to the market.
c. consumers demanding a larger quantity of eggs.
d. farmers supplying less eggs to the market.
e. consumers demanding a smaller quantity of eggs.

Question 2

Inefficiency is best illustrated by which of the following?
a. foregoing civilian goods in order to produce more military goods
b. limiting economic growth by reducing capital spending
c. high levels of unemployment of labor and other resources that could be productively employed
d. producing outside the production possibilities frontier