The market price for onions is Rs 50/kg. The government introduces a price ceiling of Rs 60/kg for onions. This would cause .

a shortage

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an excess supply

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no effect

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Solution

The correct option is C no effect
A price ceiling above the equilibrium price would have no effect on the market.

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The market price for onions is Rs 50/kg. The government introduces a price ceiling of Rs 60/kg for onions. This would cause .

The correct option is C no effectA price ceiling above the equilibrium price would have no effect on the market.

The correct option is C no effect
A price ceiling above the equilibrium price would have no effect on the market.