If a price ceiling results in the price not being used to allocate a scarce resource or good, then
A) something other than price must allocate the scarce good.
B) the price will have to decline.
C) the market will take over.
D) the government will be more efficient than any other mechanism.
E) a random allocation will be more efficient than any other mechanism.

Question

Quizplus · Accepted Answer

If the price is not being used to allocate a scarce resource or good, then some other mechanism must be used. This could include rationing, queuing, or some other form of allocation determined by the government or market.

If a Price Ceiling Results in the Price Not Being