Exhibit 4-3 -Refer to Exhibit 4-3.If price P₁ is a price ceiling,then

Name: Exhibit 4-3 -Refer to Exhibit 4-3.If price P 1 is a price ceiling,then
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Question

Quizplus · Accepted Answer

If price P₁ is a price ceiling, it means that it is the highest price that can legally be charged in this market. However, this price is lower than the equilibrium price, which leads to a shortage in the market. Therefore, both options B and C are correct.

Exhibit 4-3 -Refer to Exhibit 4-3.If Price P1 Is a Price Ceiling,then

Exhibit 4-3 -Refer to Exhibit 4-3.If Price P₁ Is a Price Ceiling,then