9. If a price ceiling is set above the equilibrium price, &a. a shortage will occur. &b.a
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9. If a price ceiling is set above the equilibrium price,
&a. a shortage will occur.
&b.a surplus will occur.
&c. the demand for the good or service will increase.
&d.the supply for the good or service will increase.
&e. the equilibrium price and quantity will prevail.
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Related Book For 
Fundamentals Of Economics
ISBN: 9781133956105,9781285531847
6th Edition
Authors: William Boyes, Michael Melvin
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