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Essay

Price Control

Essay specific features

 

Issue:

Business

 

Written by:

Jessica W

 

Date added:

June 7, 2015

 

Level:

University

 

Grade:

B

 

No of pages / words:

2 / 494

 

Was viewed:

8442 times

 

Rating of current essay:

 
Essay content:

If a price ceiling is not binding, a. the equilibrium price is above the ceiling. b. the equilibrium price is below the ceiling. c. it has no legal enforcement mechanism. d. people must voluntarily agree to abide by it. (ANSWER: B) [iii]. If a binding price ceiling is imposed in a market a. there will be a surplus in the market...
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there will be a surplus in the market. b. the price will be legally forced toward equilibrium price. c. there will be a shortage in the market. d. market forces will guarantee that the price will be at equilibrium. (ANSWER: C) [pic] [iv]. In which panel(s) in the figure shown would there be a shortage for CDs at the ceiling price? a...
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