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When a Price Ceiling Is Set for a Market,the Quantity

Question 84

Multiple Choice

When a price ceiling is set for a market,the quantity demanded will be:


A) Less than the equilibrium quantity and price will be less than the equilibrium price.
B) Less than the equilibrium quantity,and price will be greater than the equilibrium price.
C) Greater than the equilibrium quantity,and price will be less than the equilibrium price.
D) Greater than the equilibrium quantity,and price will be greater than the equilibrium price.

Correct Answer:

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