Price ceilings:
A) are effective when the market price is below the ceiling.
B) create a surplus.
C) usually result in a shortage of the product in the market.
D) are exemplified by minimum wage laws.
Correct Answer:
Verified
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A) caused lower prices
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Q202: A price floor is a legally mandated:
A)
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A) a
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Q257: An effective price ceiling results in
A) a
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