367
Question
What causes a shortage of a good? A price ceiling or price floor?
What causes a shortage of a good? A price ceiling or price floor?
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Solution
Shortage is caused by a price ceiling that is set below the market equilibrium price.
Also read:
Learn about more questions and answers on business studies and various other commerce topics from our website.
Shortage is caused by a price ceiling that is set below the market equilibrium price.
Also read:
Learn about more questions and answers on business studies and various other commerce topics from our website.
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