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Consequences of this price ceiling

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The following table presents the supply and demand schedules for volleyballs. There are protests, and volleyball supporters march on Washington to demand that volleyballs be made more affordable. A concerned President approaches Congress, and Congress repeals its policy of a price floor for volleyballs and imposes a price ceiling of $9 ($1 below the former price floor of $10). What are the consequences of this price ceiling?

Reference no: EM131095235

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