1. When a price ceiling is set for a market:
a. Quantity demanded will be less than the equilibrium quantity, and price will be less than the equilibrium price.
b. Quantity demanded will be less than the equilibrium quantity, and price will be greater than the equilibrium price.
c. Quantity demanded will be greater than the equilibrium quantity, and price will be less than the equilibrium price.
d. Quantity demanded will be greater than the equilibrium quantity, and price will be greater than the equilibrium price.
2. Which of the following causes a movement along a market-demand curve, but not a shift of the demand curve? A change in:
a. Buyers' expectations.
b. The number of buyers.
c. Price of the good.
d. Price of other goods.