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When a Price Ceiling Is Imposed in a Market and the Ceiling

Question 36

Multiple Choice

When a price ceiling is imposed in a market and the ceiling is binding,


A) price no longer serves as a rationing device.
B) the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling.
C) buyers and sellers both benefit in equal measure.
D) buyers and sellers both are harmed in equal measure.

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