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The graph below depicts a market with a binding price control. Select each of the answers below that is correct. (This is a multiple answer
The graph below depicts a market with a binding price control. Select each of the answers below that is correct. (This is a "multiple answer" question, which means you can select more than one answer.) A is consumer surplus. A+B+C is total surplus before the price control is imposed (i.e., without the price control). A is producer surplus. F is a shortage of goods. E is a price ceiling. B is deadweight loss. B is the increase in total surplus resulting from the price control. F is a surplus of goods. C is producer surplus. E is a price floor. The graph below depicts a market with a binding price control. Select each of the answers below that is correct. (This is a "multiple answer" question, which means you can select more than one answer.) A is consumer surplus. A+B+C is total surplus before the price control is imposed (i.e., without the price control). A is producer surplus. F is a shortage of goods. E is a price ceiling. B is deadweight loss. B is the increase in total surplus resulting from the price control. F is a surplus of goods. C is producer surplus. E is a price floor
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