« previous next »

Author Question: Which of the following is correct when a price is set below a market's equilibrium price? a. ... (Read 79 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
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

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

C


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
Reply #2 on: Jul 1, 2018
Correct answers!


macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #3 on: Jul 1, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

A serious new warning has been established for pregnant women against taking ACE inhibitors during pregnancy. In the study, the risk of major birth defects in children whose mothers took ACE inhibitors during the first trimester was nearly three times higher than in children whose mothers didn't take ACE inhibitors. Physicians can prescribe alternative medications for pregnant women who have symptoms of high blood pressure.

Chemical equilibrium and the law of mass action. Chemical equilibrium and the law of mass action.
Price of Computers, 1982–2010 Price of Computers, 1982–2010
Are these the correct answers for finding the derivative using the power rule? Are these the correct answers for finding the derivative using the power rule?
An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ... An 80-g aluminum calorimeter contains 380 g of water at an equilibrium temperature of A piece ...
Write equilibrium constant expressions for the following reactions in terms of concentration: Write equilibrium constant expressions for the following reactions in terms of concentration:
Combination of arrangement and sequence is correct Combination of arrangement and sequence is correct
Video: Angiotensin II - kidneys, adrenal glands and dehydration

For a complete list of videos, visit our video library