A price ceiling set above the equilibrium price has no effects. A price ceiling set below the

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A price ceiling set above the equilibrium price has no effects.

A price ceiling set below the equilibrium price creates a shortage and increased search activity or a black market.

A price ceiling is inefficient and unfair.

A rent ceiling is an example of a price ceiling.

A price floor set below the equilibrium price has no effects.

A price floor set above the equilibrium price creates a surplus and increased search activity or illegal trading.

A price floor is inefficient and unfair.

A minimum wage is an example of a price floor.

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Foundations Of Microeconomics

ISBN: 9780134491981

8th Edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Nov 11, 2024 02:00 AM

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A price ceiling set above the equilibrium price has no effects. A price ceiling set below the

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Foundations Of Microeconomics

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