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Which of the following is NOT true about price controls? Governments use price ceilings and price floors to intervene in markets. A price ceiling

Which of the following is NOT true about price controls? Governments use price ceilings and price floors to intervene in markets. A price ceiling is a maximum legal price that can be charged for a product. Price floors set above market equilibrium result in surpluses Price ceilings set below market equilibrium result in surpluses.

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