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Loraine Loraine
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9 years ago
Black markets can occur when price ceilings are imposed in a market. Which of the following explains why sellers participate in a black market?
A) Sellers are able to sell the product for a higher than legal price.
B) There are more buyers in the black market than in the legal market.
C) The demand is perfectly elastic in a black market.
D) The demand is perfectly inelastic in a black market.
E) The surplus in the legal market means that many sellers can sell their product in the black market.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
Authors:
Read 738 times
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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SydnieSydnie
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9 years ago
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Loraine Author
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9 years ago
Smart ... Thanks!
dedricgard
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Yesterday
I appreciate what you did here, answered it right Smiling Face with Open Mouth
zsc999
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2 hours ago
Thanks
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