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Author Question: The price of a good or a service can be determined by free interaction of demand and supply or by a ... (Read 21 times)

aeb093

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on: Oct 12, 2022

Question 1




FIGURE 5-1

Refer to Figure 5-1. To be binding, a legal price ceiling must lie


◦ below P0 but above P3.
◦ anywhere above 0.
◦ anywhere below P0.
◦ anywhere above P0.
◦ above P0 but below P2.

Question 2

The price of a good or a service can be determined by free interaction of demand and supply or by a government price regulation. One important difference between these two price-determining methods is
◦ that a regulated price above the equilibrium price will always result in shortages.
◦ one is capitalist and the other is communist.
◦ the government is in the best position to know the needs of the people.
◦ regulated prices are fairer since more people can then afford the goods or services.
◦ there are no shortages or surpluses at the free-market equilibrium price.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by aeb093 on Oct 12, 2022

mamboz

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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aeb093

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

bdobbins

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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