An effective price ceiling usually results in:

A. Excess demand

B. Qd > Qs

C. Shortage of supply

D. All of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. In constant sum game (zero sum game), if there are two parties then:
  2. Marginal revenue from a given output:
  3. The competitive equilibrium leads to:
  4. Microeconomics is also known as:
  5. In monopolistic competition, the aim of the firm is to:
  6. Economic laws are:
  7. When price decreases and with it the total outlay on a commodity also decreases, it is a case of:
  8. Engel curves shows that:
  9. A firm is a sum of persons who convert:
  10. If X and Y are close substitutes, a fall in price of X will lead to:
  11. When elasticity of demand is one (e=1), then following the formula MR=P[1-1/e], the MR will:
  12. The utility function u = f(x) is based upon :
  13. In non-collusive oligopoly firms enter into:
  14. The relationship between price effect, income effect and substitution effect is:
  15. In short-run, in monopolistic competition, a firm earns:
  16. The point where the supply and demand curves intersect on a graph determines:
  17. Entry of new firms into a competitive market will shift the supply curve of the:
  18. Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity…
  19. According to Chamberline, in monopolistic competition, differentiation is determined by:
  20. At final equilibrium in cournot model, each firm sells:
  21. The Cambridge School of Thought refers to the group of English economists who came under the influence…
  22. The total revenue curve for monopolist is the shape of:
  23. The equilibrium conditions, MC = MR = AR = AC, will happen:
  24. Variable cost includes the cost of:
  25. In Recardian theory of value, the stress has been made on:
  26. Nash equilibrium is applicable in case of:
  27. If the price of coffee increases, you would predict that:
  28. Perfect competition assumes:
  29. Consumers are likely to get a variety of similar goods under:
  30. A demand curve which is horizontal and parallel to x-axis represents: