A price ceiling will result in a shortage only if the ceiling price is ____________ the equilibrium

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A price ceiling will result in a shortage only if the ceiling price is ____________ the equilibrium price.

a. Less than

b. Equal to

c. Greater than

d. Louder than

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Microeconomics Principles, Problems and Policies

ISBN: 978-1259450242

20th edition

Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn

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Question Posted: Apr 24, 2018 07:47 AM

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A price ceiling will result in a shortage only if the ceiling price is ____________ the equilibrium

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Less than If the ceiling price is set at a value below the equilibrium ...View the full answer

Microeconomics Principles, Problems and Policies

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