Markets and prices

Question 1 of 10

A price ceiling below equilibrium leads to

Question 2 of 10

The equilibrium price is where

Question 3 of 10

A maximum price set by the government below equilibrium usually leads to

Question 4 of 10

If demand rises while supply is unchanged, equilibrium price

Question 5 of 10

A minimum price set above equilibrium causes

Question 6 of 10

Using Qd = 80 − 4P and Qs = −10 + 5P, the equilibrium price is

Question 7 of 10

Demand is Qd = 100 − 2P and supply is Qs = 20 + 2P. What is the equilibrium price?

Question 8 of 10

A black market often arises when the government

Question 9 of 10

Demand is Qd = 100 − 2P and supply Qs = 20 + 2P. The equilibrium price is

Question 10 of 10

A surplus occurs when