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Mathematics for Data and Financial Literacy
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Question 13
13
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Multiple Choice
Practice Test
Question 13 • Mathematics for Data and Financial Literacy
If a price ceiling is imposed at $30 in a market with the new demand curve, what will be the effect on the market?
Answer
A
The price ceiling will lead to a surplus.
B
The price ceiling will have no effect on the market.
C
The price ceiling will lead to a shortage.
D
The price ceiling will cause prices to rise above $30.
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