Price floors and ceilings stifle the rationing function of prices and distort resource allocation because, a.price restrictions
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Question:
Price floors and ceilings stifle the rationing function of prices and distort resource allocation because,
a.price restrictions result in a mis-allocation of resources, and consumers value the good and the resources needed to produce it differently than what the market currently offers
b.price restrictions result in a mis-allocation of incomes, and consumers value the production of the good more than producers do
c.price restrictions result in a mis-allocation of labour wages, and consumers value the production of the good less than producers do
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