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MMLU / An effective price ceiling in the market for good X likely results in

Problem

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question

An effective price ceiling in the market for good X likely results in

choices

  1. a persistent surplus of good X.
  2. a persistent shortage of good X.
  3. an increase in the demand for good Y, a substitute for good X.
  4. a decrease in the demand for good Z, a complement with good X.

subject

high_school_microeconomics

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Source and history

Official source

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