Which of the Following Will Most Likely Occur When Government

question 106

Multiple Choice

Which of the following will most likely occur when government price controls fix the price of a good above market equilibrium?

• A) Waiting lines to buy the good will develop.
• B) The quality of the good will deteriorate.
• C) Consumers will buy more than they would at the market equilibrium price.
• D) A surplus of the good will develop.

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