A price ceiling in a perfectly competitive market
a. creates more harm for sellers than gain for buyers
b. creates more harm for buyers than gain for sellers
c. is effective only it if is set above the equilibrium price
d. can turn an inefficient outcome into an efficient outcome
e. is a Pareto improvement
A
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a. True b. False Indicate whether the statement is true or false
Patents stimulate technological advance by
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A) falls; rise B) falls; fall C) rises; rise D) rises; fall