If the government imposes a price ceiling below the market ...

[Chelseaamend]

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.

[cassie_ragen]

Answer to Question 1

a

Answer to Question 2

d

[Chelseaamend]

Great answer, keep it coming

[Viet Thy]

Thanks for the timely response, appreciate it