Which of the following is NOT true about price controls? Governments use price ceilings and price...
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Which of the following is NOT true about price controls? Governments use price ceilings and price floors to intervene in markets. A price ceiling is a maximum legal price that can be charged for a product. Price floors set above market equilibrium result in surpluses Price ceilings set below market equilibrium result in surpluses. Which of the following is NOT true about price controls? Governments use price ceilings and price floors to intervene in markets. A price ceiling is a maximum legal price that can be charged for a product. Price floors set above market equilibrium result in surpluses Price ceilings set below market equilibrium result in surpluses.
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