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Author Question: If the equilibrium price of aspirins is 2.50 and a price ceiling is imposed at 3.00, the eventual ... (Read 122 times)

bobthebuilder

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on: Jun 30, 2018
If the equilibrium price of aspirins is 2.50 and a price ceiling is imposed at 3.00, the eventual result after market adjustment will be a(n):
 a. surplus. b. shortage.
  c. accumulation of inventories. d. equilibrium.

Question 2

If the equilibrium price of natural gas is 4 per thousand cubic feet and a price ceiling is imposed at 3 per thousand cubic feet, the result will be:
 a. a surplus of natural gas.
  b. a shortage of natural gas.
  c. an accumulation of inventories of unsold gas.
  d. None of these.


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yasmin

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

d

Answer to Question 2

b


bobthebuilder

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

tanna.moeller

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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