Multiple Choice
Which of the following statements is false?
A) With effective price-ceiling, the amount bought and sold is determined by the demand function.
B) With effective price-ceiling, the amount bought and sold is determined by the supply function.
C) With minimum wage regulation, the amount of unskilled workers employed is determined by the demand for labour.
D) The market price with quota system is higher than the free market equilibrium price.
Correct Answer:
Verified
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