An effective ceiling price will:
A. induce new firms to enter the industry.
B. result in a product surplus.
C. result in a product shortage.
D. clear the market.
Answer: C
Economics
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In a democratic society, the preferences of __________ will often dominate decisions made by direct majority voting
a. elected government representatives b. special interest groups c. rent seekers d. senior citizens e. the median voter
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