Question 12 The equilibrium price of a good is $4 with no price controls. The price of the good would continue to serve as the rationing mechanism (i.e., the control would not be "binding") if Group of answer choices a price floor of $5 is imposed. All of the above are correct. a price ceiling of $3 is imposed. a price ceiling of $5 is imposed.
Question 12 The equilibrium price of a good is $4 with no price controls. The price of the good would continue to serve as the rationing mechanism (i.e., the control would not be "binding") if Group of answer choices a price floor of $5 is imposed. All of the above are correct. a price ceiling of $3 is imposed. a price ceiling of $5 is imposed.
Chapter4: Prices: Free, Controlled, And Relative
Section: Chapter Questions
Problem 2WNG
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Question 12
The equilibrium price of a good is $4 with no price controls. The price of the good would continue to serve as the rationing mechanism (i.e., the control would not be "binding") if
Group of answer choices
a price floor of $5 is imposed.
All of the above are correct.
a price ceiling of $3 is imposed.
a price ceiling of $5 is imposed.
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