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Subject - Economics:

Microeconomics

MCQ - 116-4126

Question:

An effective price ceiling in the market for good X likely results in

  1. a persistent surplus of good X.
  2. a persistent shortage of good X.
  3. an increase in the demand for good Y, a substitute for good X.
  4. a persistent shortage of good X.
  5. a rightward shift in the supply curve of good X.

Correct Answer: B

Explanation:

Price ceilings are legal maximum prices set below the equilibrium price. A shortage results.

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269 MCQ for effective preparation of the test of Microeconomics of Economics section.

Read the MCQ statement: An effective price ceiling in the market for good X likely results in , keenly and apply the method you have learn through the video lessons for Microeconomics to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 116-4126.

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Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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