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Author Question: If the equilibrium price of good X is 5 and a price ceiling is imposed at 4, the result will be ... (Read 114 times)

melina_rosy

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on: Jun 30, 2018
If the equilibrium price of good X is 5 and a price ceiling is imposed at 4, the result will be a(n):
 a. accumulation of inventories of unsold gas. b. shortage.
  c. surplus. d. all of these.

Question 2

If the equilibrium price of good X is 4 and a price ceiling is imposed at 5, the result will be a(n):
 a. depletion of inventories. b. shortage.
  c. surplus. d. equilibrium.


akpaschal

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Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


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