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Price Ceilings, Price Floors, and Black Markets
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Problem 10
Price Ceilings, Price Floors, and Black Markets
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5. Consumer and Producer Surplus; Price Ceilings and Price Floors / Price Ceilings, Price Floors, and Black Markets / Problem 10
Problem 10
What are the ethical and economic implications of black markets resulting from price controls?
A
They have no significant impact on the economy.
B
They undermine legal markets and can lead to unfair distribution of goods.
C
They increase government revenue through taxes.
D
They ensure that everyone has access to goods at lower prices.
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