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Author Question: Which of the following is correct when a price is set below a market's equilibrium price? a. ... (Read 33 times)

RYAN BANYAN

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on: Jul 1, 2018
Which of the following is correct when a price is set below a market's equilibrium price?
 a. quantity demanded exceeds quantity supplied at the set price
  b. quantity demanded is less than quantity supplied at the set price
  c. quantity demanded is equal to quantity supplied at the set price
  d. at the set price there is a surplus
  e. the market price is less than the ceiling price

Question 2

Suppose a market is in equilibrium and then a price ceiling is established below the equilibrium price. Which of the following will happen?
 a. quantity demanded will decrease
  b. a surplus will develop
  c. a shortage will develop
  d. the quantity sold will rise
  e. the market will remain in equilibrium


macagnavarro

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


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RYAN BANYAN

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Reply #2 on: Jul 1, 2018
Correct answers!


macagnavarro

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Reply #3 on: Jul 1, 2018
Great! Please up vote :D


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