QUESTION 21 Which of the following is NOT true Price ceilings can cause shortages in the market If the price floor is above the equilibrium price, it is always binding If the price ceiling is above the equilibrium price, it is always biding Price floors can cause surpluses in the market QUESTION 22 Price Quantity Demanded Quantity Supplied 10 2 million 20 million 16 12 10 12

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QUESTION 21 Which of the following is NOT true? Price ceilings can cause shortages in the market. If the price floor is above the equilibrium

QUESTION 21

Which of the following is NOT true?

		Price ceilings can cause shortages in the market.
		If the price floor is above the equilibrium price, it is always binding.
		If the price ceiling is above the equilibrium price, it is always biding.
		Price floors can cause surpluses in the market.

QUESTION 22

Price Quantity Demanded Quantity Supplied 10 2 million 20 million 16 12 10 12

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