Why do some consumers tend to favor price controls while others tend to oppose them?
a. pric...
Business, 20.09.2019 19:30, coryintheswamp
Why do some consumers tend to favor price controls while others tend to oppose them?
a. price ceilings generate surpluses. consequently, consumers who obtain the product at a lower price win, but consumers who obtain the product at a higher price lose.
b. price ceilings generate shortages. consequently, the consumers who obtain the product at a lower price win, but other consumers will lose because they would like to purchase the product but are unable to because of a shortage.
c. price ceilings generate shortages. consequently, consumers surplus increases, but producer surplus decreases.
d. price floors generate shortages. consequently, the consumers who obtain the product at a lower price win, but other consumers will lose because they would like to purchase the product but are unable to because of a shortage.
e. none of the above.
Answers: 3
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