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According to the supply and demand model, which of the following is the most likely result of a government-imposed quantity restriction in a market? (Hint:
According to the supply and demand model, which of the following is the most likely result of a government-imposed quantity restriction in a market? (Hint: Recall the example of NYC food truck licenses). Question 7Answer a. An increase in the supply of the restricted good or service. b. A decrease in the price of the restricted good or service. c. A surplus developing in the market. d. The creation of an underground/black market
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