Suppose that government imposed a binding price ceiling on some good and subsequently demand for the good increased . Which of the following would be true ?   O a. Quantity exchanged would increase O b. Quantity exchanged would remain the same O c. Quantity exchanged would decrease O d. Amount of excess supply would increase.   B. A market outcome will be efficient only if consumers and producers share the economic surplus equally . O. True O. False

Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand And Government Policies
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A. Suppose that government imposed a binding price ceiling on some good and subsequently demand for the good increased . Which of the following would be true ?

 

O a. Quantity exchanged would increase

O b. Quantity exchanged would remain the same

O c. Quantity exchanged would decrease

O d. Amount of excess supply would increase.

 

B. A market outcome will be efficient only if consumers and producers share the economic surplus equally .

O. True

O. False

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