Economy, asked by suraj616, 4 months ago

price ceiling is imposed above the equilibrium price (trueor false)​

Answers

Answered by ManalBadam
2

A price ceiling imposed above the market equilibrium price will result in a shortage of the product. ... If both, the supply and the demand increase at the same time, the equilibrium price will definitely increase. Assume that the production of corn and wheat utilize the same resources (substitutes in production).

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