If the government places a binding or effective price ceiling on cancer-treating drugs,then

Name: If the government places a binding or effective price ceiling on cancer-treating drugs,then
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A price ceiling would likely cause a decrease in the supply of cancer-treating drugs, since the manufacturers would not be willing to produce them at the lower price. This would result in a shortage of the drugs, and those who need them may not be able to obtain them. As a result, more people may die from cancer.

If the Government Places a Binding or Effective Price Ceiling