Which of the below is true?
a. A price ceiling reduces the quantity exchanged on the market, but a price floor increases the quantity exchanged on the market.
b. A price ceiling increases the quantity exchanged on the market, but a price floor decreases the quantity exchanged on the market.
c. Both price floors and price ceilings reduce the quantity exchanged in the market
d. Both price floors and price ceilings increase the quantity exchanged in the market.
c
You might also like to view...
Firms in a perfectly competitive market usually enter or leave an industry in the short-run and not in the long-run
Indicate whether the statement is true or false
Refer to the above figure. Suppose that the supply curve shifts from SA to SB while the demand curve shifts from DA to DB. Which of the following is TRUE about the results of the shifts in the supply and demand curves?
A. Both the equilibrium price and equilibrium quantity remain unchanged. B. Both the equilibrium price and equilibrium quantity increase. C. The equilibrium price remains unchanged while the equilibrium quantity increases. D. The equilibrium price increases while the equilibrium quantity remains unchanged.
A tariff is a tax on imports.
Answer the following statement true (T) or false (F)
Refer to the data provided in Table 10.3 below to answer the following question(s).
Table 10.3 
Refer to Table 10.3. Marginal revenue product of the ________ worker is $480.
A. second B. third C. fourth D. fifth