A Binding Price Ceiling (I)causes a Surplus

question 543

Multiple Choice

A binding price ceiling (i) causes a surplus.
(ii) causes a shortage.
(iii) is set at a price above the equilibrium price.
(iv)
Is set at a price below the equilibrium price.

• A) (ii)only
• B) (iv)only
• C) (i)and (iii)only
• D) (ii)and (iv)only

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