Economy, asked by techycommerce, 4 months ago

Which causes a shortage of a good a price ceiling or a price flooring what causes a surplus explain with suitable diagrams?

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Answered by Anonymous

Answer:

Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result. Price floors prevent a price from falling below a certain level.

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