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What Is the Long-Run Consequence of a Price Ceiling Law

Question 108

Multiple Choice

What is the long-run consequence of a price ceiling law?


A) A surplus will continue to exist and will grow larger over time.
B) A surplus will continue to exist and will grow smaller over time.
C) A shortage will continue to exist and will grow larger over time.
D) A shortage will continue to exist and will grow smaller over time.
E) The amount of the surplus will not change.

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