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Scilla [17]
3 years ago
14

An increase in an effective maximum legal price will do what to prices and quantities actually sold in a market? Prices will ___

______ and the quantities actually sold will _______.a. increase; decreaseb. increase; increasec. decrease; decreased. decrease; increase
Business
1 answer:
babunello [35]3 years ago
6 0

Answer:

The answer is A

Explanation:

An increase in an effective maximum legal price will do what to prices and quantities sold in a market?

A maximum legal price is an effective tool to control prices. Usually, the price is below its equilibrium. An increase in the maximum legal price will increase prices and the quantities sold will decrease. When prices go up, companies offer more quantities of a product, but consumers demand less.

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