Price ceiling/ cap
What will be an ideal response?
A regulation that makes it illegal to charge a price higher than a specified level
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The demand curve for a normal good shifts leftward if income ________ or the expected future price ________
A) decreases; falls B) decreases; rises C) increases; falls D) increases; rises
What is the idea of fairness based on fair rules?
What will be an ideal response?
Capital controls are most often aimed at slowing or eliminating movements of
A) reserve assets. B) foreign direct investment. C) foreign portfolio investment. D) nonreserve government assets. E) None of the above.
In monopoly when supernormal profits are made:
a) The price set is greater than the average cost. b) The price is less than the marginal cost. c) The average revenue equals the marginal cost. d) Revenue equals total cost.