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11 Dec 2019
A price ceiling will be binding only if it is set:
(i) equal to the equilibrium price.
(ii) below the equilibrium price.
(iii) above the equilibrium price.
(iv) either above or below the equilibrium price.
A price ceiling will be binding only if it is set:
(i) equal to the equilibrium price.
(ii) below the equilibrium price.
(iii) above the equilibrium price.
(iv) either above or below the equilibrium price.
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