A binding price ceiling, A binding price ceiling...

A binding price ceiling

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Reference no: EM13736595

A binding price ceiling...

(i) causes a surplus

(ii) causes a shortage

(iii) is set at a price above the equilibrium price.

(iv) is set at a price below the equilibrium price.

a) (ii) only

b) (iv) only

c (i) and (iii) only

d) (ii) and (iv) only

Reference no: EM13736595

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