Question
With the standard supply and demand model, total gains from trade (economic benefit) are highest when ______________ A) prices are controlled by a price ceiling
With the standard supply and demand model, total gains from trade (economic benefit) are highest when ______________
A) prices are controlled by a price ceiling
B) prices are allowed to adjust with supply and demand
C) prices are controlled by a price floor
D) the government decides on a quota for production
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
