Suppose the Current Equilibrium Price of Pizza Is $5

question 177

Multiple Choice

Suppose the current equilibrium price of pizza is $5.If the government decides the price of pizza cannot rise above $4, the result of this policy would be

• A)a shortage
• B)a surplus
• C)that the market would remain in equilibrium but with a larger quantity bought and sold than at $5
• D)at the $4 price, the quantity sold would be greater than the quantity bought
• E)a shift of demand to the right

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