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11. Which of the following graphs represents a Price Floor and which represents a Price Ceiling? Explain 12. Which creates a Shortage? Which creates a

11. Which of the following graphs represents a Price Floor and which represents a Price Ceiling? Explain

12. Which creates a Shortage? Which creates a Surplus?

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between a change in the quantity demanded of a and ving: Monopolistic competition Pure Competition - large number of small knowledge of prices - similar products but not and technology Identical - freedom of entry - relative freedom of - large number of small entry firms

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