When Binding Price Ceilings Are Imposed in a Market,what Happens

question 11

Multiple Choice

When binding price ceilings are imposed in a market,what happens

• A)Price no longer serves as a rationing device.
• B)The market will be cleared of any shortages or surpluses that existed previously.
• C)Buyers and sellers both benefit equally.
• D)The market concludes that the government is attempting to improve market efficiency.

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Definitions:

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