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Some Developing Countries Have Used Price Ceilings to Keep Rice

Question 53

Multiple Choice

Some developing countries have used price ceilings to keep rice cheap to assist the poor.At the ceiling price:


A) the quantity demanded will be greater than the quantity supplied and a shortage will result
B) the quantity demanded will be greater than the quantity supplied and a surplus will result
C) the quantity demanded will be less than the quantity supplied and a shortage will result
D) the quantity demanded will be less than the quantity supplied and a surplus will result

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