A price ceiling on a good often results in:
A) black market or underground transactions of the good.
B) a surplus of the product.
C) more communication between buyers and sellers about the appropriate price.
D) a more efficient allocation of the good to buyers.

Question

Quizplus · Accepted Answer

A price ceiling set below the equilibrium price can lead to shortages, prompting black markets where the good is sold at higher prices.

A Price Ceiling on a Good Often Results In