Multiple Choice
If a price ceiling is set above the equilibrium price,then
A) there will be a surplus of the good.
B) there will be a shortage of the good.
C) there will be neither a shortage nor a surplus of the good.
D) the price ceiling will generate revenue for the government.
E) the price ceiling affects suppliers but not demanders.
Correct Answer:
Verified
Correct Answer:
Verified
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