A ceiling price in a competitive market will result in persistent surpluses of a product.
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Q210: Surpluses drive market prices up; shortages drive
Q211: A government subsidy per unit of output
Q212: If market demand increases and market supply
Q213: A government tax per unit of output
Q214: An increase in quantity supplied might be
Q216: When economists describe "a market," they mean
A)
Q217: Producing a good in the least costly
Q218: A price floor in a competitive market
Q219: A market that is achieving allocative efficiency
Q220: If demand increases and supply simultaneously decreases,
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