The difference between quantity restrictions and price ceilings as to their effect on the market is that

A) only price ceilings make the market inefficient.
B) only quantity restrictions make the market inefficient.
C) while some consumers gain from price ceilings, no consumers gain from quantity restrictions.
D) while price ceilings are efficient, quantity restrictions are not.


Answer: C

Economics

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When Kim in Korea buys stock in GE (General Electric), NCO:

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With reference to the graph above, if the intended aim of the price ceiling set at $6 was a net increase in the well-being of consumers:

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Monopolistically competitive markets may be socially inefficient because

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Economics