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Consider the following supply and demand curves. Suppose the government implements a price ceiling of $1. Suppose the government can observe quantity traded but

Consider the following supply and demand curves. Suppose the government implements a price ceiling of $1. Suppose the government can observe quantity traded but is unable to observe and shut down black market pricing. What do economists suggest the consequence of this will be on the price buyers ultimately pay and the quantity traded in this market situation? 10 5 2 1 Demand 20 50 80 Supply 100

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