If the price in a market is fixed by the government above equilibrium ?

Related Mcqs:

If the price of good is equal to the equilibrium price ?

A. there is a shortage and the price will fall B. the quantity demanded is equal to the quantity supplied supplied and the price remains unchanged C. there is surplus and the price will rise D. there is a shortage and the price will rise E. there is a surplus and the price will fall...

A shift is demand will have more effect on price than quantity if ?

A. The price elasticity of supply is price inelastic B. The price elasticity of supply is price elastic C. The price elasticity of supply is perfectly elastic D. The price elasticity of supply is infinity...

A dominant strategy is ?

A. a wining strategy B. a losing strategy C. a players best strategy when moving first D. a player’s best strategy whatever the strategies adopted by rivals...

The social costs of monopoly power arises because ?

A. marginal cost is set equal to marginal revenue B. price is less than marginal cost C. marginal consumer benefit is less than marginal revenue D. there is too little output at too high a cost...

Income inequality can be high in the free market and should be reduced This is an example of What ?

A. Judicial economic statement B. Positive economic statement C. Formative economic statement D. Normative economic statement...