CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Price ceilings that involve a maximum price below the market price create five important effects: Shortages, Reduction in Product Quality, Wasteful Lines and Other Search Costs, Loss of Gains from Trade & Misallocation of Resources.


  1. False

  2. True


Solution

The correct option is B

True


True. Price ceilings that involve a maximum price below the market price create five important effects: Shortages, Reduction in Product Quality, Wasteful Lines and Other Search Costs, Loss of Gains from Trade & Misallocation of Resources.

flag
 Suggest corrections
thumbs-up
 
0 Upvotes


Similar questions
View More


People also searched for
View More



footer-image