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Home Q & A Board Other Fields Homework Help Business Economics
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ritvikc ritvikc
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5 years ago
Suppose the market clearing price for gasoline is $2.25 per gallon. Now suppose that policy makers pass a law requiring that the maximum price that can be charged is $2.0 per gallon. Such a situation is an example of
A) a price control that will lead to a surplus of gasoline on the market.
B) a price floor that will lead to a shortage of gasoline on the market.
C) a price ceiling that will lead to a shortage of gasoline on the market.
D) a price floor that will lead to a surplus of gasoline on the market.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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#1
5 years ago
 C
ritvikc Author
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#2
5 years ago
Oh god, I was lost before coming here. Thanksss
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#3
5 years ago
Great, make sure you mark the topic solved, it hides it from other eyes Slight Smile
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