Suppose the market for hospital services is originally in equilibrium. What will happen when a price floor is set above the equilibrium price. A surplus will develop. A shortage will develop. Quantity supplied will decrease. Quantity demanded will increase. The demand for services will fall.
Suppose the market for hospital services is originally in equilibrium. What will happen when a price floor is set above the equilibrium price.
A. A surplus will develop.
B. A shortage will develop.
C. Quantity supplied will decrease.
D. Quantity demanded will increase.
E. The demand for services will fall.