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If a Price Ceiling of $14 Is Set in the Market

Question 46

Multiple Choice

If a price ceiling of $14 is set in the market shown in the graph: QS appears to be incomplete.I. Total surplus will be $90.II. Deadweight loss will be $8.III. Producer surplus will be $25. A) I only B) III only C) II and III only D) I, II, and III If a price ceiling of $14 is set in the market shown in the graph: QS appears to be incomplete.I. Total surplus will be $90.II. Deadweight loss will be $8.III. Producer surplus will be $25.


A) I only
B) III only
C) II and III only
D) I, II, and III

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