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Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016 Exercise 4
It is claimed in this chapter that either price floors or price ceilings reduce the actual quantity exchanged in a market. Use a diagram or diagrams to test this conclusion, and explain the common sense behind it.
Explanation
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Assume that in the above diagram,
rep...
Macroeconomics 12th Edition by William Baumol,Alan Blinder
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