Question: A binding price ceiling 1. causes a surplus. ii. causes a shortage. iii. is set at a price above the equilibrium price. iv. is set

A binding price ceiling 1. causes a surplus. ii. causes a

shortage. iii. is set at a price above the equilibrium price. iv.

A binding price ceiling 1. 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. O a. (ii) only O b. (iv) only O c. (i) and (iii) only O d. (ii) and (iv) only

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