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The Consumer's Gain from the Imposition of a Price Ceiling

Question 60

Multiple Choice

The consumer's gain from the imposition of a price ceiling is higher when:


A) the own price elasticity of market demand is high and the price elasticity of market supply is high.
B) the own price elasticity of market demand is high and the price elasticity of market supply is low.
C) the own price elasticity of market demand is low and the price elasticity of market supply is high.
D) the own price elasticity of market demand is low and the price elasticity of market supply is low.

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