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If the equilibrium price of a certain commodity is N120.00 and the government fixed its…

If the equilibrium price of a certain commodity is N120.00 and the government fixed its price at N110.00, the supply will be?
  • A.
    greater than the equilibrium supply
  • B.
    smaller than the equilibrium supply
  • C.
    the same as the equilibrium supply
  • D.
    a determinant of the market forces of equilibrium
Correct Answer: Option B
Explanation