6. What would happen to the market if the price ceiling was set above the equilibrium?

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter3: Demand And Supply
Section: Chapter Questions
Problem 9SCQ: What would be the impact of imposing a price flour below the equilibrium price?
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Prices (Dollars)
5J32
4
Demand and Supply Schedule
S
Pe
D
0 100 200 300 400 500
Quanity
Transcribed Image Text:Prices (Dollars) 5J32 4 Demand and Supply Schedule S Pe D 0 100 200 300 400 500 Quanity
6.
What would happen to the market if the price ceiling was set above the equilibrium?
Transcribed Image Text:6. What would happen to the market if the price ceiling was set above the equilibrium?
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