A price ceiling on oil below the market equilibrium price would be expected to have all the following effects except: Discouraging the exploration for domestic supplies of oil Creating a shortage of oil Giving consumers more oil to consume at lower prices Increasing the production of alternatives to oil such as naturalgas

A price ceiling on oil below the market equilibrium price would be expected to have all the following effects except: Discouraging the exploration for domestic supplies of oil Creating a shortage of oil Giving consumers more oil to consume at lower prices Increasing the production of alternatives to oil such as naturalgas

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter4: Markets In Action

Section: Chapter Questions

Problem 11SQ

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