• Card 6 / 47: The quantity demanded will equal the quantity supplied at a free market equilibrium and also when:
    A) a price floor is established above the equilibrium price.
    B) a shortage of a commodity persists.
    C) a price ceiling is established below the equilibrium price.
    D) an effective price ceiling exists and the government is able to prevent the development of a black market.
    E) none of the above cause quantity demanded to equal quantity supplied.

    Answer:
    E) none of the above cause quantity demanded to equal quantity supplied.

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Microeconomics Practice MCQ

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Attribution:  Levy, Frank. 11.203 Microeconomics, Fall 2010. (MIT OpenCourseWare: Massachusetts Institute of Technology), http://ocw.mit.edu/courses/urban-studies-and-planning/11-203-microeconomics-fall-2010 (Accessed 13 Mar, 2014). License: Creative Commons BY-NC-SA
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