If the Government Set a Price Ceiling at $8

question 49

Multiple Choice

If the government set a price ceiling at $8

• A)there would be a temporary surplus,then prices would fall to equilibrium.
• B)there would be a permanent surplus,at least until the price floor was lifted.
• C)the price would fall back to the equilibrium price.
• D)the price floor would not have any effect on this market.

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