Assume In A Competitive Market That Price Is Initially Above The Equilibrium Level. We Can Predict That Price?

A. decrease, quantity demanded will decrease, and quantity supplied will increase.
B. decrease and quantity demanded and quantity supplied will both decrease.
C. decrease, quantity demanded will increase, and quantity supplied will decrease.
D. increase, quantity demanded will decrease, and quantity supplied will increase.
A price floor means that:
A. inflation is severe in this particular market.
B. monopolistic sellers are artificially restricting supply to raise price.
C. government is imposing a legal price that is below the equilibrium price.
D. government is imposing a legal price that is above the equilibrium price.
Relative to rent control, a housing voucher program:
A. is less transparent
B. will be better targeted
C. puts a bigger share of the costs on landlords
D. fights market forces rather than working with market forces

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One Response to “Assume In A Competitive Market That Price Is Initially Above The Equilibrium Level. We Can Predict That Price?”

  1. Anjaree says:

    1 C
    2. D
    3. B

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