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Figure 6-2 Supply PRICE Price Ceiling Demand 30 60 90 120 150 180 210 240 QUANTITY Refer to Figure 6-2. The price ceiling O a.
Figure 6-2 Supply PRICE Price Ceiling Demand 30 60 90 120 150 180 210 240 QUANTITY Refer to Figure 6-2. The price ceiling O a. causes a shortage of 60 units of the good. O b. makes it necessary for sellers to ration the good using a mechanism other than price. O c. is not binding because it is set below the equilibrium price. O d. causes a shortage of 30 units of the good
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Price theory and applications
Authors: Steven E landsburg
8th edition
538746459, 1133008321, 780538746458, 9781133008323, 978-0538746458
