In a market in which the government has set a price ceiling below the equilibrium price:
A. there will be excess supply.
B. quantity supplied will exceed quantity demanded.
C. the quantity demanded will equal quantity supplied.
D. a black market might develop.
Answer: D
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Monopolistically competitive firms can earn large profits in the long run.
Answer the following statement true (T) or false (F)
If consumer preference for a product increases, this will cause the equilibrium price of the product to go down, and the equilibrium quantity of the product to go u
Indicate whether the statement is true or false
How has organizing a successful firm in a market economy changed over the last century?
A) There has been no change one way or the other over the last century. B) It has become more difficult to organize an efficient and successful firm. C) It has become easier as more and more firms discover how to do it. D) As government intervention has decreased, firms now have more freedom.
Which of the following are examples of job amenities?
a. a child-care center at work b. a pleasant view c. a workplace gymnasium d. all of the above