Tuesday 5 June 2012

When, in a particular market, the law of demand and the law of supply both apply,

When, in a particular market, the law of demand and the law of supply both apply, the imposition of a binding price ceiling in that market causes quantity demanded to be __________.
A.   double the quantity supplied B.   less than quantity supplied C.   greater than quantity supplied D.   equal to quantity supplied
 

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