28 January, 23:06
Which situation is the most likely result of a price ceiling being set below the equilibrium price?
a. decreased demand
b. a surplus in the market
c. a shortage in the market
d. a higher equilibrium price?
28 January, 23:54
The equilibrium price is basically the ideal price that is determined when the demand and the supply for an item is equal. If you place the price bellow the equilibrium price, the price of the product will be lower than what the market is willing to pay, and as result you will have surplus of the item in the market.
The correct answer is b.
Know the Answer?
New Questions in Business
Which are ways that humans can lower biodiversity as they use the environment? CHECK ALL THAT APPLY
The opera station broadcasts at 90.5 MHz and the rock nroll station at 07.1 MHz which station's signal has waves with longer wavelengths and which one has higher energy
Solve 3 q - 5 = 13 for q. q =
Beth files a suit against Cruise Line, Inc. Cruise responds that it appears from the pleadings that the parties do not dispute the facts and the only question is how the law applies to those facts.
Which of the following was best compares an armistice to a peace treaty
Aqueous hydrochloric acid will react with solid sodium hydroxide to produce aqueous sodium chloride and liquid water. Suppose 34. g of hydrochloric acid is mixed with 9.30 g of sodium hydroxide.
How did the colonist use it to get more support for their rebellion
Is 7/8 greater than 3/4
What is the molar mass of C2H6O
True Flight Golf manufacturers a popular shaft for golf clubs. Its trade secret is a unique process for weaving high-tension wire into the center of the shaft such that energy is accumulated during the swing and released at impact.
» Which situation is the most likely result of a price ceiling being set below the equilibrium price? a. decreased demand b. a surplus in the market c. a shortage in the market d. a higher equilibrium price?