Question 1

Suppose that the equilibrium price of an article is N500 but the government fixes the price by law at N400, the supply will be

  • A.the same as the equilibrium supply
  • B.greater than the equilibrium supply
  • C.less than the equilibrium supply
  • D.determined later by the government
  • E.none of the above
Objective

Question details

Exam body
UNN
Subject
Economics
Year
2011/2012 DAY 2
Question no.
#1
Type
Objective

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