Suppose the government imposes a price ceiling above the equilibrium price of a given good. Which of the following is the most likely result?
Group of answer choices:
A) Some other rationing device will emerge to allocate the good among buyers.
B) Some buyers and sellers will be willing to risk breaking the law in order to exchange the good at a price above the equilibrium price since there would be a shortage of the good at the price ceiling.
C) No change will occur in the market.
D) Brute force will be used to allocate the good among buyers.
E) a, b, and d.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Suppose the government imposes a price ceiling above the equilibrium price of a given good. Which of the following is the most likely ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Pina Colada Corp. receives $180,000 when it issues a $180,000, 9%, mortgage note payable to finance the construction of a building at December 31, 2019. The terms provide for annual installment payments of $30,000 on December 31.
Answers (1)
During the current year, Robert pays the following amounts associated with his own residence: Property taxes $3,000 Mortgage interest 8,000 Repairs 1,200 Utilities 2,700 Replacement of roof 4,000 In addition, Robert paid $1,500 of property taxes on
Answers (1)
When studying abroad last year, Thomas found that his U. S. dollars didn't stretch as far as he had expected. Each time he exchanged his dollars for euros, he had to give up more dollars in exchange for fewer euros. The exchange rate indicates
Answers (1)
570,000. The firm will raise the $570,000 in capital by issuing $230,000 of debt at a before-tax cost of 11.1%, $20,000 of preferred stock at a cost of 12.2%, and $320,000 of equity at a cost of 14.7%. The firm faces a tax rate of 25%.
Answers (1)
Respond in paragraph form to the following question: What are four social responsibility issues of businesses in America?
Answers (1)
New Questions in Business
Glassmaker has pre-merger $5 in debt and $10 in equity. Rate on debt is 11%. The risk free rate is 6%. The tax rate is 40%. The levered beta is 1.36. The equity risk premium is 4%.
Answers (1)
The Operations Section Chief: A. Sets up and maintains all incident facilities and food services. B. Coordinates communication between all responding agencies. C. Develops and implements strategies and tactics to achieve the incident objectives. D.
Answers (2)
A certain city reports the following year-end total assets: General Fund $18,400,000 Library Fund (a special revenue fund) 2,900,000 Debt Service Fund 2,600,000 Total governmental funds 26,300,000 Total governmental and enterprise funds combined
Answers (2)
A deposit of $870 earns interest rates of 10.7 percent in the first year and 8.7 percent in the second year. What would be the second year future value?
Answers (1)
Mitchell, a calendar year taxpayer, is the sole proprietor of a fast-food restaurant. His adjusted basis for the building and the related land is $450,000.
Answers (1)