If the equilibrium price of bread is Rs 3 and the government-08963
If the equilibrium price of bread is Rs. 3 and the government imposes Rs. 2 price ceiling on the price of bread then:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Mid Term - Quiz No.2.
If the equilibrium price of bread is Rs. 3 and the government imposes Rs. 2 price ceiling on the price of bread then:
More bread will be produced to meet the increased demand.
There will be a shortage of bread.
The demand for bread will decrease because suppliers will reduce their supply.
A surplus of bread will emerge.
