CIMA Fundamentals of Business Economics BA1 Question # 61 Topic 7 Discussion

CIMA Fundamentals of Business Economics BA1 Question # 61 Topic 7 Discussion

BA1 Exam Topic 7 Question 61 Discussion:
Question #: 61
Topic #: 7

When a minimum price is imposed on a good by the government, which is above the equilibrium price:


A.

Excess supply will result


B.

Trading will continue at the equilibrium price


C.

Excess demand will result


D.

Firms will fulfill their market plans at this price


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