When the price ceiling is fixed below the equilibrium price, it leads to which of the following?
(1) Excess supply
(2) Excess demand
(3) Black marketing
The correct answer is B
Statements: D ≥ E > F; G < H ≤ F; H > I
Conclusions:
I. D > H
II. I < E
III. F > I
Statements: Z ≤ B = G; I > U; I < W < G; Z ≤ X < S
Conclusions:
I. Z < W
II. U < B
III. X > I
Statements: P > Q ≥ R < S < U > V > T > W > X > Y
Conclusion:
I. Q > T
II. Q ≤ T
Statements: P ≥ Q > R; S < T ≤ R; T > V
Conclusions:
I. P > T
II. V < Q
III. R > V
Statements: M > N > P ; P = Q ; N < R
Conclusions:
I. Q < N
II. P < M
III. M > R
Statements: E ≥ F ≥ A ≤ W, N ≥ M ≥ Y = E
Conclusion:
I. N > W
II. Y ≥ A
Statement:A≤T<B =C ≤P<D;D>J ≥S
I. C >S
II. J < D
Statements: P ≥ Q, R > S, R ≥ Q, T = P < U
Conclusion:
I. R > P
II. U > Q
Statements: A ≥ M > E, K ≤ J ≤ D = E, B ≤ Z ≤ Y = K
Conclusion:
I. M > Y
II. D ≥ B
Statements: U = T ≥ J < Y ≤ X; C ≥ Z > X ≤ P = S.
Conclusions:
I. J ≤ P
II. S > T