When a price control pushes the price of a good or resource below the market equilibrium, then a __________ of goods will develop.

answer

watching

240

views

For unlimited access to Homework Help, a Homework+ subscription is required.

You have 0 free answers left.
Get unlimited access to 3.8 million step-by-step answers.

Get unlimited access

Already have an account? Log in

Kristelle BalandoLv10

17 Sep 2020

Unlock all answers

Get 1 free homework help answer.

Already have an account? Log in

Related questions

The demand curves for both goods "E" and "F" slope downwards-and-to-the-right. Assume the government installs a price floor in the market for good "E" at the equilibrium price and a price ceiling in the market for good "F" at the equilibrium price. Now, if there is a technological advance in the production of both goods then the market price of good "E" will (increase / no change/decrease) and the market price of good "F" will (increase / no change/decrease).

A. Not change; decrease.

B. Decrease; decrease.

C. Increase; not change.

D. Not change; increase.

E. Decrease; not change.

violetfrog556

15. If the actual price were below the equilibrium price in the market for bread, then a. a surplus would develop and would get worse. b. a shortage would develop but market forces would tend to correct the problem. c. a surplus would develop but market forces would tend to correct the problem d. a surplus would develop and market forces would make it worse.

48) Goods X and Y are substitutes for consumers and substitutes in production. The price of a resource used to produce good X falls. The equilibrium quantity of good Y will and the equilibrium price of good Y will A) remain the same; rise B) decrease; rise or fall depending on relative shifts of the demand and supply curves C) decrease; remain the same D) remain the same; fall E) increase, decrease, or remain the same depending on relative shifts of the demand and supply curves; fall

Weekly leaderboard

Home

Homework Help 3,900,000

Economics 400,000

When a price control pushes the price of a good or resource below the market equilibrium, then a __________ of goods will develop.

Unlock all answers

Related textbook solutions

Principles of Economics

Principles of Macroeconomics

Principles of Microeconomics

Related questions

Weekly leaderboard