Which of the following is a likely outcome of price controls and quota limits?
A) prices higher than the market equilibrium price
B) illegal activity as people invent ways to get around the market constraint
C) shortages and units of output that must be disposed of
D) shortages and inefficiency caused by buyers searching for units of the good
Correct Answer:
Verified
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Figure: The
Q146: Use the following to answer questions:
Figure: The
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