If a price ceiling of $8 were placed in the market in the graph shown:
A. a shortage of 23 would occur.
B. a shortage of 7 would occur.
C. a shortage of 8 would occur.
D. a shortage of 15 would occur.
Answer: A
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If a manager's expected marginal revenue exceeds their expected marginal cost, which of the following is true?
A) The expected profit from producing another unit is negative. B) The manager is maximizing expected profit. C) To maximize expected profit, the manager should decrease production. D) To maximize expected profit, the manager should increase production.
Which of the following is infrastructure?
a. Training and education b. Police c. Highways d. All of the answers are correct.
Which economist argued that free markets unleashed the "animal spirits" of entrepreneurs, propelling innovation, technology, and growth?
A. John Maynard Keynes. B. Kenneth Olsen. C. Lord Kelvin. D. Irving Fisher.
The underemployed are those people who are
A. not looking for work actively enough to be considered unemployed. B. unemployed due to the ups and downs of the business cycle. C. working at a job below their skill level while looking for a better job. D. working full-time but want to work only part-time.