Which of the following is not an unintended consequence of a price ceiling? Group of answer choices A market shortage. Other ways to ration the quantity available. New firms entering the market to produce. Emergence of a black market for the good.
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A price ceiling is a government-imposed limit on how high a product's price can be. It is set below the market equilibrium price to make goods more affordable for consumers. Show more…
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A price ceiling is a legal maximum on the price at which a good can be sold. often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling. All of the above are correct.
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If a price ceiling is not binding, then select one: a. there will be a surplus in the market. b. there will be a shortage in the market. c. the market will be less efficient than it would be without the price ceiling. d. there will be no effect on the market price or quantity sold.
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