A price ceiling is ?

Related Mcqs:

Suppose a frost destroys much of the Florida orange crop. At the same time, suppose consumer tastes shift toward orange juice, What would we expect to happen to the equilibrium price and quantity in the market for orange juice ?

A. price will decrease, quantity is ambiguous B. The impact on both price and quantity is ambiguous. C. Price will increase, quantity will increase D. price will increase, quantity will decrease E. price will increase, quantity is ambiguous....

The prisoners Dilemma Game demonstrates that ?

A. players are better of to act independently B. monopoly is better than competition C. people will always cheat D. players are better off if they co-operate...

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...

A positive externality occurs when ?

A. The social marginal costs are higher than the private marginals costs B. A product is not provided in the free market C. The social marginal cost equal the social marginal benefit D. The social marginal benefits are higher than the private marginal benefits...

All of the following are types of imperfect competition except ?

A. monopolistic competition B. oligopoly C. monopoly D. unfair competition...