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NYC NYC
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8 years ago
If the equilibrium price of gasoline is $3.00 per gallon and the government will not allow oil companies to charge more than $2.00 per gallon of gasoline, which of the following will happen?
A) The market will be in equilibrium at a price of $2.00.
B) Demand must eventually decrease so that the market will come into equilibrium at a price of $2.00.
C) Supply must eventually increase so that the market will come into equilibrium at a price of $2.00.
D) A nonprice rationing system such as ration coupons must be used to ration the available supply of gasoline.
Textbook 
Principles of Macroeconomics

Principles of Macroeconomics


Edition: 11th
Authors:
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JesslynJesslyn
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NYC Author
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8 years ago
I was thinking the same, thank you
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