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7 Select the statement below that is true of ONLY price ceilings. The market is allowing for trade to occur between buyers and sellers The

7 Select the statement below that is true of ONLY price ceilings.

  • The market is allowing for trade to occur between buyers and sellers
  • The market clears, there are no shortages or surpluses
  • Can create a shortage of product
  • Are binding when they are above equilibrium

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