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corie corie
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6 years ago
Suppose Congress passes a law that states the price of gasoline may not exceed $6 per gallon (but may be lower).  If the current price of gasoline is less than $6, what impact does this law have on the current price and quantity of gasoline in the US market?
A) There is a shortage of gasoline
B) There is a surplus of gasoline
C) Quantity supplied currently equals quantity demanded, but a surplus is possible at prices above $6
D) The law currently has no impact, and the market clears at the equilibrium price
Textbook 
Microeconomics

Microeconomics


Edition: 8th
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Bart_argBart_arg
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6 years ago
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