Author Question: If the equilibrium price of aspirins is 2.50 and a price ceiling is imposed at 3.00, the eventual ... (Read 121 times)

bobthebuilder · **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.