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1.What predictable effects result from price ceilings such as rent control? 2.What predictable effects result from price floors such asthe minimum wage? 3.True or False:

1.What predictable effects result from price ceilings such as rent control?

2.What predictable effects result from price floors such asthe minimum wage?

3.True or False: The consumer bears more of the tax burden when demand is relatively more elastic than supply.

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