If price was set by the government at $11, there would be a price __________, that would cause a ___________ of ______ units.
A. floor; surplus; 8
B. floor; surplus; 10
C. floor; shortage; 8
D. ceiling; shortage; 12
A. floor; surplus; 8
You might also like to view...
The S-curve is used to illustrate
a. the typical path taken by the current account over time. b. economic fluctuations in the economy. c. the typical growth path of a developing economy. d. the existence of multiple equilibria.
The property rights approach to environmental issues often becomes highly relevant in cases involving _______ .
A. greenhouse gas emissions B. harmful affects of acid rain C. endangered species D. fresh water resources
Which of the following statements about economic resources is true?
A) Economic resources include financial capital and money. B) Economic resources are also called factors of production. C) Economic resources are used only by businesses. D) All economic resources are man-made.
Explain the difference between price cap regulation in a natural monopoly and the effect of a price ceiling in a competitive market
What will be an ideal response?