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What is one effect of a price ceiling?
A shortage of supply
What is one effect of price ceiling?
shortage of supply
What happen increase in demand and decrease in supply?
The price for the good increases
When the supply is less than demand there is a what?
If the supply is less than the demand, there will be a shortage and price increase.
What happens when supply is greater than demand?
The price declines until demand increases.
What is one effect of price ceiling?
shortage of supply
What is one effect of a price ceiling?
A shortage of supply
What happen increase in demand and decrease in supply?
The price for the good increases
When the supply is less than demand there is a?
If the supply is less than the demand, there will be a shortage and price increase.
When the supply is less than demand there is a what?
If the supply is less than the demand, there will be a shortage and price increase.
when the supply is less than demanded there is a?
If the supply is less than the demand, there will be a shortage and price increase.
What happens when supply is greater than demand?
The price declines until demand increases.
When the price floor is higher than the equilibrium price there is a a surplus b a shortage c both a shortage and a surplus dneither a shortage nor a surplus?
When the price floor is set above the equilibrium price, it leads to a surplus. This occurs because the higher price incentivizes producers to supply more goods than consumers are willing to buy at that price, resulting in excess supply in the market.
What would happen if suppliers charge less than the equilibrium price for your good or service?
producers would supply less than consumers would be willing to consume at that particular price. There would be SHORTAGE
How can demand and supply conditions cause a shortage to occur?
A shortage occurs when the demand for a good or service exceeds its supply at a given price. This can happen if consumer preferences shift suddenly, leading to increased demand, or if production costs rise, causing suppliers to reduce output. Additionally, price controls, such as price ceilings, can prevent prices from rising to equilibrium levels, exacerbating the mismatch between supply and demand. Consequently, consumers may find that the product is unavailable or in limited supply.
A decrease in supply will cause an?
increase in equilibrium price and a decrease in equilibrium quantity, which leads to a shortage at the original price.
What are some advantages and disadvantages of price ceiling?
lowers the supply of good creates a shortage
