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Q. |
Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price? |
A. | quantity demanded exceeds quantity supplied at the set price |
B. | quantity demanded is less than quantity supplied at the set price |
C. | at the set price there is a surplus |
D. | None of above |
Answer» A. quantity demanded exceeds quantity supplied at the set price |
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