If the Equilibrium Price for Some Product Is $1000, a Price

Multiple Choice

If the equilibrium price for some product is $1000, a price ceiling of $1200 will result in

A) the same general effects as an administered price of $1200.
B) massive surpluses of the good.
C) the same general effects as a price floor of $1200
D) no effects because the price ceiling is not binding at that price.
E) the same general effects as a price ceiling of $600.