-Refer to Exhibit 4-3.If price P₃ is a price ceiling,then A) the price ceiling does not have an effect on the market for good X. B) the price at which exchange takes place is P₃. C) the price at which exchange takes place is P₂. D) there is a shortage in the market for good X. E) both a and c

Question

Quizplus · Accepted Answer

The Answer of -Refer to Exhibit 4-3.If price P₃ is a price ceiling,then A) the price ceiling does not have an effect on the market for good X. B) the price at which exchange takes place is P₃. C) the price at which exchange takes place is P₂. D) there is a shortage in the market for good X. E) both a and c