Multiple Choice
Which statement(s) is/are TRUE? I.Quantity controls set below the market equilibrium quantity drive a wedge between the demand price and the supply price of the good.
II.The difference between the demand price and the supply price at the quota limit is consumer surplus.
III.Quantity controls have no undesirable side effects.
A) I only
B) II only
C) II and III
D) I,II,and III
Correct Answer:
Verified
Correct Answer:
Verified
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