Multiple Choice
The stricter the enforcement of a price ceiling, the
A) smaller is the difference between the black market price and the legal market price of the good.
B) larger is the difference between the black market price and the legal market price of the good.
C) greater is the amount of the good available in total, from either the legal market or the black market.
D) Both answers B and C are correct.
Correct Answer:
Verified
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