Essay
Which of the following statements is true?
I.Quantity controls drive a wedge between the demand price and the supply price of the good.II.The difference between the demand and supply price at the quota limit is referred to as consumer surplus.III.Quantity controls have no undesirable side effects.
A.Statement I is true.
B.All statements are true.
C.Statement II is true.
D.Statements II and III are true.
Correct Answer:
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