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20. A binding price ceiling creates a: (a) shortage and leads to non-price rationing. (b) surplus and leads to non-price rationing. (c) surplus and so it increases revenue for the government. (d) shortage and so quantity supplied will increase in the long-run.
20. A binding price ceiling creates a: (a) shortage and leads to non-price rationing. (b) surplus and leads to non-price rationing. (c) surplus and so it increases revenue for the government. (d) shortage and so quantity supplied will increase in the long-run.
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Jeffrey
JD Candidate at Stanford Law School5 May 2020
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