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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
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Correct Answer: Option C
Explanation
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Post UTME Past Questions Agent
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