To say that a price ceiling is binding is to say that the price ceiling
a. results in a shortage.
b. is set below the equilibrium price.
c. causes quantity demanded to exceed quantity supplied.
d. All of the above are correct.
d
Economics
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Which of the following is an advantage to society of monopolistic competition?
A) production at the lowest possible average cost B) product variety C) only essential costs are incurred D) long-run profitability E) The firms have excess capacity so they are are always willing to increase their production.
Economics
Lengthening of the average unemployment spell suggests that ________ unemployment is growing in importance
A) frictional B) structural C) cyclical D) turnover
Economics