In a market with a binding price ceiling, an increase in the ceiling will __ the quantity
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In a market with a binding price ceiling, an increase in the ceiling will __ the quantity supplied, __ the quantity demanded, and reduce the __ .
a. Increase, decrease, surplus
b. Decrease, increase, surplus
c. Increase, decrease, shortage
d. Decrease, increase, shortage
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Related Book For
Principles Of Microeconomics
ISBN: 9780176872823
8th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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