If a price ceiling is not binding,then
A) the equilibrium price is above the price ceiling.
B) the equilibrium price is below the price ceiling.
C) it has no legal enforcement mechanism.
D) None of the above is correct because all price ceilings must be binding.
Correct Answer:
Verified
Q8: A price ceiling is binding when it
Q9: If the government removes a binding price
Q10: A price ceiling will be binding only
Q11: Suppose the government has imposed a price
Q12: When a binding price ceiling is imposed
Q14: If the government removes a binding price
Q15: Which of the following observations would be
Q16: Which of the following is the most
Q17: If a price ceiling is not binding,then
A)there
Q18: When a binding price ceiling is imposed
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