Question
Refer to Exhibit 3-14. If price P 3 is a price ceiling, then a. there is a surplus in this market. b. the price at
Refer to Exhibit 3-14. If price P 3 is a price ceiling, then
| a. | there is a surplus in this market. | |
| b. | the price at which exchange takes place is P3. | |
| c. | the price at which exchange takes place is P2. | |
| d. | there is a shortage in this market. |
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Essentials of Economics
Authors: N. Gregory Mankiw
8th edition
1337091995, 978-1337515351, 1337515353, 978-1337091992
