Author Question: If the government imposes a price ceiling below the market equilibrium price, then: a. c and d. b. ... (Read 128 times)

Chelseaamend · **on:** Jun 30, 2018

If the government imposes a price ceiling below the market equilibrium price, then:
a. c and d.
b. there will be excess supply.
c. there will be excess demand.
d. the intent is to benefit consumers.
e. the intent is to benefit producers.

Question 2

Price ceilings are imposed if the government believes:
a. the market will not achieve an equilibrium price.
b. the market equilibrium price is too low.
c. an excess supply of the product exists.
d. the market equilibrium price is too high.
e. the demand will be less than the supply of the product.