If a Seller Facing Excess Demand Is Unable to Raise

question 148

Multiple Choice

If a seller facing excess demand is unable to raise the price of the good due to a price ceiling, a likely result will be:

• A) an increase in the quantity supplied of the product.
• B) an increase in the price of the product.
• C) a decrease in the quality of the product.
• D) a further decrease in the price of the product.

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Definitions:

Specific Purpose

A particular goal or intention that guides an action or activity, often articulated to focus efforts and resources.

Emergent Interest Groups

Groups that form spontaneously around shared concerns or goals, typically in response to specific events or developments.

Operating Coalition

A temporary alliance formed for the purpose of achieving a particular goal or undertaking a specific task.

High Agreement

A situation or condition where there is significant consensus or concurrence among parties on a particular issue or set of issues.