Which of the Following Is True for a Price Ceiling

question 35

Multiple Choice

Which of the following is true for a price ceiling?

• A) A price ceiling is a limit below which it is illegal to set a price.
• B) A price ceiling usually leads to a shortage in a market.
• C) A price ceiling is usually set above the equilibrium price.
• D) A price ceiling is usually set for goods like alcohol to curb excess consumption.

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