In Econoland, price floors and ceiling prices: both cause shortages. both cause surpluses. interfere with the rationing

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

In Econoland, price floors and ceiling prices: both cause shortages. both cause surpluses. interfere with the rationing

Post by answerhappygod »

In Econoland, price floors and ceiling prices:
both cause shortages.
both cause surpluses.
interfere with the rationing function of prices.
cause the supply and demand curves to shift until equilibrium is
established.
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”