The following will occur when maximum price is fixed below the free market price EXCEPT…

Economics NECO 2005

The following will occur when maximum price is fixed below the free market price EXCEPT that

  • black market will be encouraged
  • excess demand will occur
  • excess supply will occur checkmark
  • rationing of commodities will occur
  • scarcity of goods will occur

The correct answer is: C

Explanation

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