If a Price Ceiling Is to Be Binding or Effective,it

question 22

Multiple Choice

If a price ceiling is to be binding or effective,it should be set

• A)Below the equilibrium price,and it will create a market shortage.
• B)Below the equilibrium price,and it will create a market surplus.
• C)Above the equilibrium price,and it will create a market shortage.
• D)Above the equilibrium price,and it will create a market surplus.