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MMLU / Which of the following statements about a price ceiling is accurate?

Problem

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question

Which of the following statements about a price ceiling is accurate?

choices

  1. An effective price ceiling must be at a price below the equilibrium price.
  2. A price ceiling will increase the quantity of the good supplied.
  3. A price ceiling will cause a shift in the demand curve for the good.
  4. A price ceiling will have no effect on the quantity of the good supplied.

subject

high_school_microeconomics

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Official source

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