One Likely Result of a Price Ceiling Is That

question 246

Multiple Choice

One likely result of a price ceiling is that:

• A) a surplus of product would result.
• B) the price charged in the market would be above the equilibrium price.
• C) the price charged in the market would be the equilibrium price.
• D) the available product must be rationed.
• E) the market supply curve will shift to the right.

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Definitions:

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