In a Competitive Market,a Price Ceiling Set Below the Free-Market

question 55

Multiple Choice

In a competitive market,a price ceiling set below the free-market equilibrium price will result in

• A)a continuation of the free-market equilibrium price and quantity.
• B)the quantity demanded exceeding quantity supplied and thus a shortage in the market.
• C)the quantity supplied exceeding quantity demanded and thus a surplus in the market.
• D)a new free-market equilibrium at a lower price and higher output level.
• E)excess supply.

Identify and evaluate the effectiveness of different types of sales promotions.

Understand the concept of the lagged effect in marketing campaigns.

Comprehend the role and growth of direct marketing in the current consumer purchase landscape.

Recognize the importance and application of corporate blogs in IMC efforts.

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