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Macroeconomics 13th Edition by William Baumol ,Alan Blinder
Edition 13ISBN: 978-1305280601Macroeconomics 13th Edition by William Baumol ,Alan Blinder
Edition 13ISBN: 978-1305280601 Exercise 14
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 13th Edition by William Baumol ,Alan Blinder
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