Multiple Choice
Assume a market price gets set artificially low-that is,it gets set below the equilibrium price.This change means:
A) Every producer loses surplus, and it all gets transferred to consumers.
B) Some producers drop out of the market, and those left lose some surplus.
C) Every consumer gains surplus, due to the lower price now being charged.
D) None of these is true.
Correct Answer:
Verified
Correct Answer:
Verified
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