When, in a particular market, the law of demand and the law of supply both apply, - 3230

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Request Description

When, in a particular market, the law of demand and the law of supply both apply, the imposition of a binding price ceiling in that market causes quantity demanded to be

A. greater than quantity supplied. 

B. less than quantity supplied.

C. equal to quantity supplied.

D. Any of the above is possible

 
Solution Description

When, in a particular market, the law of demand and the law of supply both apply,