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Consider the market for some product X that is represented by the demand-and-supply diagram to the Px right S a. With an initial equilibrium at

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Consider the market for some product X that is represented by the demand-and-supply diagram to the Px right S a. With an initial equilibrium at (p * Q * ), if the government decides to impose a price ceiling equal to p2. the price decreases the quantity exchanged decreases and the market efficiency D

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