A Price Ceiling Is

question 162

Multiple Choice

A price ceiling is

• A)the minimum allowable price set by government, and it causes a surplus if effective.
• B)the maximum allowable price set by government, and it causes a shortage if effective.
• C)the equilibrium price.
• D)the maximum allowable price set by government, and it causes a surplus if effective.
• E)the minimum allowable price set by government, and it causes a shortage if effective.

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