Solution-What do you think would happen in such a situation

What do you think would happen in such a situation

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A price ceiling would create a shortage of gasoline, as you correctly explained. If prices were free to adjust, they would increase, you are right. However, since there is a price ceiling, prices would not be able to increase.

What do you think would happen in such a situation?

Reference no: EM131773955

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What do you think would happen in such a situation

Reference no: EM131773955

Reference no: EM131773955

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