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- How do price controls affect the market?What will be the result of an decrease in a price ceiling for gasoline? Group of answer choices The quantity will decrease because the quantity demanded will decrease. The quantity will remain the same; only the price will change. The quantity will increase because the quantity demanded will increase. The quantity will decrease because the quantity supplied will decrease.How does a tax on sellers affect the market equilibrium?
- Which of the following best describes a price floor? The minimum price that a producer is allowed to charge for a product The maximum price that a producer is allowed to charge for a product The equilibrium priceWho gets the benefit when there is surplus of goods in the market household consumers government sellersA price-taking firm. Select one: a. Sets the product's price to whatever level the owner decides upon b. Talks to rival firms to determine the best price for all of them to charge c. Cannot influence the price of the product it sells d. Asks the government to set the price of its product.
- A price ceiling is intended to benefit which group of people? consumers producers The GovernmentWhich of the following best describes a price ceiling? The minimum price the producer is allowed to charge for a product The maximum price that the producer is allowed to charge for a product. The equilibrium price that a producer is allowed to charge for a productThink of a time when the demand on an item was overwhelming high or the supply of an item was low, did the price go up because of this? Do you think it is right for organizations to demand more money and raise the price for the items in these?