5. Consumer and Producer Surplus; Price Ceilings and Floors
Price Ceilings, Price Floors, and Black Markets
Multiple Choice
Multiple ChoiceAll of the following are problems associated with price ceilings except:
A
chronic excess demand
B
an eventual decline in the number of suppliers
C
the need to use ration coupons to purchase a good
D
chronic excess supply
E
landlords failing to maintain rent-controlled properties adequately
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