A price ceiling: a. Is a legal price set by government below equilibrium. b. Causes the quantity

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A price ceiling:

a. Is a legal price set by government below equilibrium.

b. Causes the quantity demanded to exceed the quantity supplied.

c. Creates a shortage.

d. Is exemplified by a rent control.

e. All of the above.

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Survey Of Economics

ISBN: 9780357720806

11th Edition

Authors: Irvin B. Tucker

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