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e Edit View History Bookmarks People Window Help x x) MindTao-Cengage Learning ECON 2301.4767 Fall 2018-i html?deploymentld-58122223105278047355744991348 Secure https/ing.cengage.com/static/nb/ui/evo/index.htmi2deplogmer INDTAP Cengage ent I- Part I Ch 1-4 ce Details 3Wrong estion: ardeel 3c04.087 83 Which of the following is false? a. When the U.S. government imposed price ceilings on gasoline, the result was a surplus of gasoline. b. When the U.S. government imposed price ceilings on gasoline, the result was a shortage of gasoline. c. If a price ceiling is imposed below the equilibrium price in a given market, the result is a shortage in that market d.First-come-first-served is a commonly used rationing device. 3 00 O 00 O Hide Feedback 83 Incorrect .00 83 OIcn Ky 17

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Ans

Option A is wrong. Here demand exceeds supply. So there is shortage of commodity rather than surplus

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