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A Price Ceiling in the Market for Fuel Oil That

Question 3

Multiple Choice

A price ceiling in the market for fuel oil that is below the equilibrium price will


A) lead to the quantity supplied of fuel oil exceeding the quantity demanded.
B) lead to the quantity demanded of fuel oil exceeding the quantity supplied.
C) decrease the demand for fuel oil.
D) increase the supply of fuel oil.
E) have no effect in the market for fuel oil.

Correct Answer:

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