Multiple Choice
A legal price ceiling, if it is binding, is a
A) maximum price, above equilibrium, which price is not allowed to exceed.
B) maximum price, below equilibrium, which a price is not allowed to exceed.
C) any maximum price which price is not allowed to exceed.
D) minimum price, above equilibrium, which price is not allowed to fall below.
E) minimum price, below equilibrium, which price is not allowed to fall below.
Correct Answer:
Verified
Correct Answer:
Verified
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