Author Question: If a price ceiling is imposed, then: a. the market supply curve will shift to the right. b. the ... (Read 47 times)

s.tung

  • Hero Member
  • *****
  • Posts: 577
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

  • Sr. Member
  • ****
  • Posts: 323
Answer to Question 1

c

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

Excessive alcohol use costs the country approximately $235 billion every year.

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

For a complete list of videos, visit our video library