When a price ceiling is imposed on a market (assuming the price ceiling is below the equilibrium
Question:
When a price ceiling is imposed on a market
(assuming the price ceiling is below the equilibrium price),
a. the quantity of the good supplied will fall.
b. the quantity of the good supplied will rise.
c. the demand curve for the good will shift to the left.
d. the demand curve for the good will shift to the right.
e. decisions must be made concerning the sale of excess supply.
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