A price ceiling imposed below the equilibrium price ______
A. creates a black market in which the price might equal or exceed the equilibrium price
B. creates a black market in which the price equals the price ceiling
C. leads to increased search activity, which reduces the shortage of the good
D. increases the demand for the good, which makes the shortage even larger
A The price in black markets lies between the ceiling price and the maximum price demanders will pay for the quantity pro-duced.
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