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Which of the following statements about ...

Which of the following statements about Price Ceiling is accurate ?

A

An effective Price Ceiling must be at a price below the equilibrium price.

B

Price Ceiling will increase the quantity of good supplied.

C

An effective Price Ceiling must be at a price more than the equilibrium price.

D

Price Ceiling will decrease the quantity demanded.

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The correct Answer is:
(A)
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SANDEEP GARG-PRICE DETERMINATION AND SIMPLE APPLICATIONS-Multiple Choise Questions
  1. Which of the following statements about Price Ceiling is accurate ?

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  2. When market demand is more than market supply, it refers to a situatio...

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  3. refers to the minimum price, fixed by the government, which is above t...

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  4. Equilibrium price is determined when :

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  5. Which of the following statements is correct in case of non-viable ind...

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  6. What would happen to be Market Equilibrium of a good if decrease in de...

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  7. What will be the effect of increase in price of factor inputs on the e...

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  8. Both equilibrium price and quantity rise when :

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  9. In case of - an increase in demand will lead to rise in equilibrium qu...

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  10. Equilibrium price remains the same when :

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  11. What will be the effect on equilibrium price and equilibrium quantity ...

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  12. How does cost saving technology affect the equilibrium price and equil...

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  13. Price Floor can also be described as:

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  14. Equilibrium price falls and equilibrium quantity rises when:

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  15. If increases in demand is greater than the increases in supply, then t...

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  16. If decrease in supply is less than the decrease in demand, then:

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  17. The individual demand and supply functions of a product are given as: ...

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  18. The individual demand and supply functions of a product are given as: ...

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  19. Which of the following situation does not lead to an increase in equil...

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  20. Suppose consumer taste shifts in favour of apples. As a result, equili...

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