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Answer whether each of the following is true or false. 62.When demand and supply shift in opposite directions, total surplus generally changes in the same
Answer whether each of the following is true or false.
62.When demand and supply shift in opposite directions, total surplus generally changes in the same direction as equilibrium price. 63.Price ceilings create excess supply. 64.Price ceilings create deadweight loss by increasing the quantity exchanged above equilibrium. 65.Price ceilings hurt producers, regardless of whether they are still able to sell their product. 66.Price ceilings hurt some consumers but help others, depending on whether they are still able to buy the product. 67.Price floors create excess demandStep by Step Solution
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