A. a shortage or a surplus depending on whether the price ceiling is set above or below the equilibrium price
B. a surplus
C. a shortage
D. an equilibrium
A. falls more heavily on sellers
B. falls entirely on sellers
C. falls more heavily on buyers.
D. is evenly distributed between buyers and sellers.
A. always determines the price at which a good must be sold.
B. sets a legal maximum on the price at which a good can be sold.
C. is not a binding constraint if it is set above the equilibrium price.
D. sets a legal minimum on the price at which a good can be sold.