Multiple Choice
When price controls take the form of maximum prices set below the equilibrium price,they are:
A) illegal.
B) equal to the demand price.
C) price floors.
D) price ceilings.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q89: Critics of the pharmaceutical industry often argue
Q90: The purpose of medallions issued in New
Q91: Use the following to answer question: <img
Q92: Rent controls set a price ceiling below
Q93: Producers may supply a good with inefficiently
Q95: Price controls encourage black markets because:<br>A)they eliminate
Q96: Use the following to answer question: <img
Q97: The persistent unwanted surplus that results from
Q98: A binding price floor causes:<br>A)a shortage in
Q99: A binding price ceiling is usually designed