Price Ceilings and Floors Quick Check
3 of 53 of 5 Items
Question
Governments often implement price ceilings to protect consumers from the high prices of essential goods and services that frequently follow natural disasters. One unfortunate side effect of these price ceilings is that they will likely _____.(1 point)
Responses
lead to a shortage as prices are kept from falling to their equilibrium level
lead to a shortage as prices are kept from falling to their equilibrium level
lead to a surplus as prices are kept from falling to their equilibrium level
lead to a surplus as prices are kept from falling to their equilibrium level
lead to a surplus as prices are kept from rising to their equilibrium level
lead to a surplus as prices are kept from rising to their equilibrium level
lead to a shortage as prices are kept from rising to their equilibrium level