Multiple Choice
The major drawback of a price ceiling is
A) it causes a surplus.
B) government regulations of this kind are difficult to enforce.
C) it causes a shortage.
D) There is no drawback.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q21: If the price of oil, a close
Q27: The amount of a good sold in
Q76: We observed that the price of a
Q84: Figure 4-16<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2282/.jpg" alt="Figure 4-16
Q88: If price rises, what happens to demand
Q142: A decrease in demand will have what
Q187: The laws of supply and demand force
Q254: If the U.S.government starts to sell off
Q278: If both the supply and demand curves
Q289: Price ceilings are designed to protect sellers,