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Refer to the diagram in the right paneL (a) What will happen if the government imposes a price ceiling below equilibrium price (e.g. at $180)?

Refer to the diagram in the right paneL (a) What will happen if the government imposes a price ceiling below equilibrium price (e.g. at $180)? (b) Are the consumers better off under this policy? Explain. 220 Price mo 1% D=MB 02 01 Quantity

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