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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Microeconomics Theory And Applications With Calculus
Authors: Jeffrey M. Perloff
4th Edition
134167384, 134167381, 978-0134167381
