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26-04-2024
Business

Answered

Suppose the equiLiBrium price of a given good is 10, and the government imposes a price ceiling at 12. Which of the following is the most likely result?
1) The price of the good will increase to 12.
2) The price of the good will decrease to 10.
3) The price of the good will remain at 10.
4) The price of the good will be determined by supply and demand.

Answer :

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