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Which of the following statements are correct? i) The number of buyers who gain from the price ceiling is greater than the original number of
Which of the following statements are correct?
i) The number of buyers who gain from the price ceiling is greater than the original number of buyers.
ii) A price ceiling creates an excess demand.
iii) A price ceiling generates winners as well as losers.
iv) To have an effect, the price ceiling must be set at a lower level than the original market price.
v) A price ceiling is an example of government intervention to assist the producer.
A ii, iv, v
B i, iii
C ii, iii, iv
D i, ii, iii, v
E i,iii,v
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