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The Following Figure Shows the Effect of a Price Ceiling

Question 8

Multiple Choice

The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P2 and quantity B.
Figure 10-1 The following figure shows the effect of a price ceiling in the market for yams.The market was initially in equilibrium at price P<sub>2 </sub>and quantity B. Figure 10-1 -Refer to Figure 10-1.The aggregate consumer surplus at the initial point of equilibrium,F,is _____. A) EFJ B) LEJP<sub>2</sub> C) LEP<sub>3</sub> D) LFP<sub>2</sub>
-Refer to Figure 10-1.The aggregate consumer surplus at the initial point of equilibrium,F,is _____.


A) EFJ
B) LEJP2
C) LEP3
D) LFP2

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