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Posts: 227
A month ago
Will a price ceiling always result in a reduction in efficiency?
Textbook 

Microeconomics: Principles, Applications, and Tools


Edition: 8th
Authors:
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wrote...
Posts: 257
A month ago
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Not always. A price ceiling only results in inefficiency if it is effective—if it causes the market price to fall below the equilibrium price. If the price ceiling's maximum price is above the equilibrium price, the price ceiling is ineffective and does nothing to the market outcome.
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