A price ceiling only works when the market-clearing, equilibrium price is higher than the regulated price. Why?

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Principles Of Microeconomics: The Way We Live First

ISBN: 9781000639810

1st Edition

Authors: Feigenbaum S.K., Hafer R.W.

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Question Posted: Nov 11, 2024 11:00 AM

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A price ceiling only works when the market-clearing, equilibrium price is higher than the regulated price. Why?
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A price ceiling only works when the market-clearing, equilibrium price is higher than the regulated price. Why?

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Principles Of Microeconomics: The Way We Live First

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