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MMLU-Pro / 5455 / If the government places a price ceiling on leather garments that is below the…

Problem

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question

If the government places a price ceiling on leather garments that is below the equilibrium price, which of the following will occur in the market for leather garments?

category

other

options

  1. The price of leather garments will remain the same.
  2. The demand curve for leather garments will shift rightward.
  3. There will be a surplus.
  4. The supply curve for leather garments will shift leftward.
  5. There will be no effect on the supply or demand for leather garments.
  6. The supply curve for leather garments will shift rightward.
  7. The demand curve for leather garments will shift leftward.
  8. There will be an increase in the production of leather garments.
  9. The price of leather garments will rise.
  10. There will be a shortage.

src

ori_mmlu-miscellaneous

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