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A Price Ceiling Is Typically Imposed on a Market Because

Question 118

Multiple Choice

A price ceiling is typically imposed on a market because of ___________ and it creates_______.


A) a chronic excess demand; an unacceptable price increase
B) an unacceptable price increase; chronic excess demand
C) an unacceptable price decrease; chronic excess demand
D) an unacceptable price decrease; chronic excess supply
E) an unacceptable price increase; chronic excess supply

Correct Answer:

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