The government decides to impose a price ceiling on a good, because it thinks the market-determined price is “too high.” If the government imposes the price ceiling below the equilibrium price:
A.
. consumers will respond to the lower price and therefore wish to purchase more of the good than at the equilibrium price.
B.
. producers will respond to the lower price and therefore offer more units for sale.
C.
. consumers will be able to purchase more of the good after the price ceiling is imposed.
D.
. it will not be binding.