Under a price ceiling, the full economic price is » MCQ Academy English

Managerial Economics

Under a price ceiling, the full economic price is

the dollar price paid to the firm.
the opportunity cost of not being able to buy a good when a consumer needs it.
lower than the free-market price.
higher than the free-market price.

Note

Under a price ceiling, the full economic price is higher than the free-market price.

Tags: Demand and Supply

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