Suppose a price ceiling is not binding;this means that
A) the equilibrium price is above the price ceiling.
B) the equilibrium price is below the price ceiling.
C) it has no legal enforcement mechanism.
D) people are finding a way to circumvent the law.
Correct Answer:
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Q1: Policymakers use taxes
A)to raise revenue for public
Q12: A price ceiling will be binding only
Q13: Figure 6-1 Q14: Which of the following is the most Q15: To say that a price ceiling is Q18: Figure 6-1 Q19: When,in a particular market,the law of demand Q20: A shortage results when Q21: Figure 6-3 Q273: Figure 6-1 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)a binding price ceiling
Panel (a)Panel (b) 
