If a price ceiling is imposed, then: a. the market supply curve ...

[s.tung]

If a price ceiling is imposed, then:
 a. the market supply curve will shift to the right.
  b. the market demand will shift to the left.
  c. a shortage of product will result.
  d. the government would be required to buy-up the surplus product.
  e. the market equilibrium price is below the level the government wishes to achieve.

Question 2

If the government imposes a price ceiling, then:
 a. producers must charge the ceiling price.
  b. the price offered by producers must be at or above the ceiling price.
  c. the price offered by producers must be at or below the ceiling price.
  d. producers would be inclined to increase the quantity supplied.
  e. the market supply curve will shift to the right.

[josephsuarez]

Answer to Question 1

c

Answer to Question 2

c