Economics

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Why does a government place price ceilings, such as rent control, on some "essential" goods?

I choose C am I right?

A. to prevent the development of a black market
B. toencourage an increase in supply of necessary items
C. to limit the impact of equilibrium pricing
D. to help reduce demand for these goods

  • Economics -

    A major characteristic of monopolistic competition is that prices will be
    A. higher than in perfect competition.

    B. lower than in perfect competition.

    C. higher than in a true monopoly.

    D. unrelated to the type of competition.

  • Economics -

    Advances in technology have reduced the cost of manufacturing MP3 players. If demand does not change,
    A. more MP3 players will be sold at a higher price.

    B. fewer MP3 players will be sold at a higher price.

    C. more MP3 players will be sold at a lower price.

    D. fewer MP3 players will be sold at a lower price.

  • Economics -

    Suppose the market for the magazine is in equilibrium. Some students insist on raising the cover price by $1 and printing the same quantity. What is likely to happen?
    A. The demand for the magazine will go up.

    B. There will be a shortage of 150 magazines.

    C. There will be a surplus of 100 magazines.

    D. The surplus will be greater than their sales.
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