Which of the following price controls will cause a shortage in the market for coffee? A price _____ set _____ the equilibrium price of a coffee.
A. ceiling; above.
B. ceiling; below.
C. floor; above.
D. floor; below.
Answer: B
Which of the following price controls will cause a shortage in the market for coffee? A price _____ set _____ the equilibrium price of a coffee.
A. ceiling; above.
B. ceiling; below.
C. floor; above.
D. floor; below.
Answer: B