A black market develops only when quantity demanded exceeds quantity supplied.
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Q65: A price ceiling is only effective if
Q66: Enacting a law controlling rents near a
Q67: Price ceilings are designed to protect sellers,
Q68: Price ceilings lead to market surpluses.
Q69: Black-market prices are below equilibrium prices because
Q71: Price floors lead to market surpluses.
Q72: Rent controls are most often designed to
Q73: Since rent controls have been in effect
Q74: Rent controls encourage investment in housing because
Q75: Governments can eliminate market surpluses through the
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