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Author Question: In a competitive market, a legal price ceiling set above the free-market equilibrium price will result in (Read 138 times)

Deej

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on: Oct 12, 2022

Question 1

In a market where we observe a disequilibrium, quantity exchanged is determined by
◦ the quantity supplied.
◦ the quantity demanded.
◦ the greater of quantity demanded and quantity supplied.
◦ neither quantity demanded nor quantity supplied.
◦ the lesser of quantity demanded and quantity supplied.

Question 2

In a competitive market, a legal price ceiling set above the free-market equilibrium price will result in
◦ a new free-market equilibrium at a higher price and lower output level.
◦ a continuation of the free-market equilibrium price and quantity.
◦ the quantity demanded exceeding quantity supplied and thus a shortage in the market.
◦ the quantity supplied exceeding quantity demanded and thus a surplus in the market.
◦ increased profits to the firms in the industry.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by Deej on Oct 12, 2022

mamboz

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Deej

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

shailee

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Reply 3 on: Yesterday
Excellent

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