Which of the Following Observations Would Be Consistent with the Imposition

question 41

Multiple Choice

Which of the following observations would be consistent with the imposition of a price ceiling that is higher than equilibrium price? After the price ceiling is established,

• A)there will be no effect on the market price or quantity sold.
• B)a smaller quantity of the good is demanded.
• C)a larger quantity of the good is supplied.
• D)the price rises above the previous equilibrium.

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