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Figure 6-11 -Refer to Figure 6-11.If the Government Imposes a Price Ceiling

Question 140

Multiple Choice

Figure 6-11
Figure 6-11 -Refer to Figure 6-11.If the government imposes a price ceiling at $3,it would be A) binding if market demand is Demand A or Demand B. B) non-binding if market demand is Demand A or Demand B. C) binding if market demand is Demand A and non-binding if market demand is Demand B. D) non-binding if market demand is Demand A and binding if market demand is Demand B.
-Refer to Figure 6-11.If the government imposes a price ceiling at $3,it would be

A) binding if market demand is Demand A or Demand B.
B) non-binding if market demand is Demand A or Demand B.
C) binding if market demand is Demand A and non-binding if market demand is Demand B.
D) non-binding if market demand is Demand A and binding if market demand is Demand B.

Correct Answer: