Refer to the figure below. Consider the original supply and the original demand curve. If the government imposes a price ceiling of $1.00 on a cup of coffee, then there would be: 
A. a new equilibrium at a price of $1.00 per cup and a quantity of 50 cups per hour.
B. a short-term excess demand for coffee, followed by an increase in the equilibrium price.
C. an excess supply of coffee.
D. an excess demand for coffee.
Answer: D
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Using the information in the table, develop the four-firm concentration ratio. Would you classify this industry as an oligopoly? Explain your answer.
What will be an ideal response?
In which of the following monetary aggregates are Treasury Bills included?
a. M1 only b. M2 only c. both M1 and M2 d. neither M1 nor M2
To describe the feelings of investors, the phrase "animal spirits" of entrepreneurs was coined by
A. Adam Smith. B. Karl Marx. C. John Maynard Keynes. D. Milton Friedman.
The aggregate supply curve will shift to the right when the:
A. amount of labor in the society decreases. B. capital stock of the society shrinks. C. amount of natural resources in the society gets smaller. D. amount of labor in the society increases.