Academy of PakistanTest & Learning

804Active Users

Academy of PakistanTest & Learning

804Active Users

2105EconomicsMedium

A binding price ceiling creates?

Aan equilibrium

Ba shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price

Ca surplus

Da shortage

Correct answer

D. a shortage

Explanation

The correct answer is a shortage.

Question ID: economics-2893

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