Chapter 02 Market Forces: Demand and Supply
Chapter 02. Market Forces: Demand and Supply Multiple Choice Questions 1. In a competitive market, the market demand is Qd = 60 − 6P and the market supply is Qs = 4P. A price ceiling of $3 will result in a: A. shortage of 30 units.B. shortage of 15 units.C. surplus of 30 units.D. surplus of 12 units. Answer: A. Learning Objective: 02-04 ................
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