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usmc2rn usmc2rn
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2 years ago
If the free-market equilibrium price for some product is $25, then a legal price ceiling set at $15 will bring about

▸ no change in the market outcomes.

▸ a surplus of the good.

▸ the same general effects as a price ceiling of $25.

▸ a shortage of the good.

▸ the same general effects as an equilibrium price of $15.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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skdiveelisskdiveelis
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2 years ago
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usmc2rn Author
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2 years ago
this is exactly what I needed
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Helped a lot
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This calls for a celebration Person Raising Both Hands in Celebration
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