What is the case when a price ceiling is not binding
A) The equilibrium price is above the ceiling.
B) The equilibrium price is below the ceiling.
C) It has no legal enforcement mechanism.
D) People must voluntarily agree to abide by it.
Correct Answer:
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Q2: Figure 6-1 Q3: What happens if a binding price ceiling Q4: What are the outcomes of price controls Q5: Which statement best describes a price floor Q6: Why are policymakers led to control prices Q8: What is the role of price controls Q9: What is a legal maximum price at Q10: When will a price ceiling be binding Q11: What will a price ceiling that is Q12: What is a legal minimum price at
A)Price
A)A
A)They
A)only
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