A current shortage is due to a price ceiling. If the price ceiling is removed, a. price
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A current shortage is due to a price ceiling. If the price ceiling is removed,
a. price would increase, quantity supplied would increase, and quantity demanded would decrease.
b. price would increase, quantity supplied would decrease, and quantity demanded would increase.
c. price would decrease, quantity supplied would increase, and quantity demanded would decrease.
d. price would decrease, quantity supplied would decrease, and quantity demanded would increase.
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