A. a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price
B. a surplus
C. a shortage
D. an equilibrium
- Which of the following is an example of price floor ?
- A fall in price ______ ?
- An increase in price all other things unchanged leads to ?
- Assume that global recession causes the quantity of tin demanded to decrease by 4 million pounds at each price To maintain the price of tin at the target price you would ?
- A decrease the Price of foreign oil ?
- What does price elasticity of demand measure?
- A firm in perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is?
- Scale for measuring the average share price and percentage change of 30 major US industrial companies is called ?
- Which side of the market is more likely to lobby government for a price floor?
- Because supply and demand conditions for primary products are very price inelastic their prices ?
- Which market is characterized by a small number of large buyers who control all purchases and therefore the market price of a good a service ?
- An increase in price leads to ? (all other things unchanged)