Black markets can generally be eliminated when price ceilings are enacted.

Name: Black markets can generally be eliminated when price ceilings are enacted.
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Question

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Price ceilings often create shortages as suppliers are unable or unwilling to provide goods/services at the mandated price. This creates opportunities for black markets to emerge where sellers offer goods/services at prices above the legal ceiling. Therefore, enacting price ceilings does not eliminate black markets.

Black Markets Can Generally Be Eliminated When Price Ceilings Are