Multiple Choice
Which statement is NOT true about price controls?
A) Governments use price ceilings and price floors to intervene in markets.
B) A price ceiling is a maximum legal price that can be charged for a product.
C) Price floors set above market equilibrium result in surpluses.
D) Price ceilings set below market equilibrium result in surpluses.
Correct Answer:
Verified
Correct Answer:
Verified
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