Chapter4: Prices: Free, Controlled, And Relative
Section: Chapter Questions
Problem 4WNG
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Question
Which of the following explains why is there is a
A. When a
B. When a
C. When a price ceiling is in effect, consumers refuse to buy the good at the higher price.
D. When a price ceiling is in effect, producers refuse to sell the good at the higher price.
E. When a price floor is in effect, producers refuse to sell the good at the higher price.
F. When a price floor is in effect, producers refuse to sell the good at the lower price.
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