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Business, 12.03.2022 02:40 repirce9141

For the next two questions, consider a law that says that the price of a bushel of wheat cannot legally go higher than $3.
Which of the following statements is true?
The purpose of this price control is to help sellers (suppliers).
If this price control is binding, quantity supplied will be greater than quantity demanded.
If this price control is binding, a shortage will occur.
The price control will be non-binding if the equilibrium price of wheat is $3.50.

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For the next two questions, consider a law that says that the price of a bushel of wheat cannot le...
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