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Question #48208

A price ceiling is ?

Options:

A) a maximum price usually set by government that sellers may charge for a good

B) the different between the initial equilibrium price and the equilibrium price after a decrease in supply

C) a minimum price usually set by government that sellers must charge for a good

D) a minimum price that consumers are willing to pay for a good.

Answer: A price ceiling is a maximum price usually set by government that sellers may charge for a good.

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