1. Does a price ceiling change the equilibrium price?
2. b What would be the impact of imposing a price floor below the equilibrium price?
3. c How does a price ceiling set below the equilibrium level affect quantity demanded and quantity supplied?
4. d Does a price floor attempt to make a price higher or lower?
5. e How does a price floor set above the equilibrium level affect quantity demanded and quantity supplied?

Answer rating: 100% (QA)

a Price ceilings prevent a price from rising above a certain level When a price ceiling is set below ... View the full answer