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corie corie
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6 years ago
Under a binding price ceiling, what does the change in consumer surplus represent? 
A) The gain in surplus for those buyers who can still purchase the product at the lower price.
B) The loss in surplus for those buyers who previously purchased some units of the good at the higher price, but these units are no longer produced at the lower price.
C) The loss in surplus for those buyers who would like the purchase the excess demand created by the price ceiling policy.
D) Both A and B are correct.
E) Both A and C are correct.
Textbook 
Microeconomics

Microeconomics


Edition: 8th
Author:
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oracledarrenoracledarren
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#1
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6 years ago
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corie Author
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6 years ago
Thank you, thank you, thank you!
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This site is awesome
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