Which of the Following Is Likely to Happen If the Government

question 152

Multiple Choice

Which of the following is likely to happen if the government imposes a price control at $60,when the demand curve shifts to D₂?

• A) There will be a shortage of 15 units of the good in the market.
• B) There will be a surplus of 15 units of the good in the market.
• C) There will be a shortage of 10 units of the good in the market.
• D) There will be a surplus of 10 units of the good in the market.

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Definitions:

Capital Commitments

Obligations of a company to spend capital in the future for the purchase of assets or for investment purposes.

Entrepreneurial Team

A group of individuals with complementary skills and a shared vision, working together to launch and develop a new business venture.

Economically Viable

An initiative, project, or business is considered economically viable if it has the potential to generate enough revenue or benefits to cover its expenses and provide a return on investment.

Discontinue Funding

The act of stopping the provision of financial resources to a project, initiative, or company.