Multiple Choice
What occurs whenever a price ceiling is imposed in a market?
A) The quantity demanded exceeds quantity supplied and a surplus results.
B) It depends on where the ceiling is imposed when determining whether the quantity traded will be affected.
C) The quantity demanded exceeds quantity supplied and a shortage results.
D) The quantity supplied exceeds quantity demanded and a surplus results.
Correct Answer:
Verified
Correct Answer:
Verified
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