If the Government Fixes the Price of Good X Above

question 19

Multiple Choice

If the government fixes the price of good X above its free-market equilibrium level,we should expect

• A)a surplus of good X to occur.
• B)a shortage of good X to occur.
• C)an excess demand for good X.
• D)a black market to arise for good X.
• E)a new free-market equilibrium price to be established.

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