-Refer to Exhibit 4-3

question 66

Multiple Choice

-Refer to Exhibit 4-3.If price P₂ is a price ceiling,then

• A) there is a shortage in the market for good X.
• B) the highest price that can legally be charged in this market is P₃.
• C) the price at which exchange legally takes place in the market for good X is P₂.
• D) the quantity exchanged is less than the quantity demanded.
• E) all of the above

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Definitions:

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