EXPLORING ECONOMICS
8th Edition
ISBN: 2818000015614
Author: Sexton
Publisher: SAGE
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Chapter 5, Problem 6P
To determine
The impact on market for the movies, if the city council imposes a
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If a city government were to impose a ceiling price on rental prices in the downtown area:
quantity supplied would increase.
supply would increase.
an illegal market would likely emerge.
quantity demanded would decrease.
What will be the result of an decrease in a price ceiling for gasoline?
Group of answer choices
The quantity will decrease because the quantity demanded will decrease.
The quantity will remain the same; only the price will change.
The quantity will increase because the quantity demanded will increase.
The quantity will decrease because the quantity supplied will decrease.
For a given market, the equilibrium quantity of
the good or service will decrease if
demand decreases and supply decreases
demand increases and supply decreases
demand decreases and supply increases
demand increases and supply increases
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