If government fixes price below the equilibrium price, what effect will it have on demand?...
ECONOMICS
JAMB 2001
If government fixes price below the equilibrium price, what effect will it have on demand?
- A. Quantity demanded and supplied will be equal
- B. Quantity supplied will be greater than quantity demanded
- C. Quantity demanded will increase
- D. Quantity demanded will decrease
Correct Answer: C. Quantity demanded will increase
Post an Explanation Or Report an Error
If you see any wrong question or answer, please leave a comment below and we'll take a look. If you doubt why the selected answer is correct or need additional more details? Please drop a comment or Contact us directly. Your email address will not be published. Required fields are marked *