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Exhibit 4.8 -Suppose a Market Is in Equilibrium. If a Price Ceiling

Question 77

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Exhibit 4.8
Exhibit 4.8 -Suppose a market is in equilibrium. If a price ceiling is set by the government below the equilibrium price, which of the following is most likely to occur? A) a decline in quantity demanded B) a surplus C) a shortage D) an increase in the quantity being sold E) a new equilibrium
-Suppose a market is in equilibrium. If a price ceiling is set by the government below the equilibrium price, which of the following is most likely to occur?


A) a decline in quantity demanded
B) a surplus
C) a shortage
D) an increase in the quantity being sold
E) a new equilibrium

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