A Level Economics (9708)•9708/11/M/J/21

Explanation
Price controls' effects depend on OP relative to equilibrium
Steps:
- Identify equilibrium price (Pe) and OP's position from diagram.
- For minimum price (floor) at OP: if OP > Pe, binding, causes surplus; consumers lose, some producers lose (unsold output).
- For maximum price (ceiling) at OP: if OP < Pe, binding, causes shortage; all consumers affected.
- Evaluate statements: A true if OP > Pe (all consumers lose higher price/less Q, some producers lose surplus); B true if OP < Pe (shortage affects all consumers); C true if OP < Pe? Wait, producers lose from ceiling, but diagram needed; D false as not all producers gain from floor.
Not enough information: Diagram missing, so OP's position relative to Pe ambiguous; cannot confirm statements without it.
Final answer: Not enough information.
[VIOLATION]
Topic: Methods and effects of government intervention in markets
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