Multiple Choice
Suppose the equilibrium price in a market is $5, and the government imposes a $4.50 price ceiling. This will
A) Create excess demand.
B) Create excess supply.
C) Shift the supply curve to the left.
D) Have no effect.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q7: What term in microeconomics tells us how
Q21: The definition of an exogenous variable is:<br>A)a
Q37: Which of the following is the best
Q39: Suppose that we illustrate demand and supply
Q41: A manager cares about the number of
Q45: Which of the following statements has both
Q45: Which of the following is an
Q46: Identifying the appropriate way to allocate an
Q56: In general, economics is the study of:<br>A)the
Q75: Which of the following statements has neither