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Perfectly Competitive Market Assignment | Homework For You

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November 22nd, 2019

suppose the milk market is perfectly competitive market in equilibrium with equilibrium price 2 dollars per gallon, which two of the following statements are true?

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a) if the government regulates the prices at 3 dollars per gallon, there will be a shortage of milk in the market

b) the government regulates the prices at 3 dollars per gallon, there will be a surplus of milk in the market

c) the government regulates the prices at 1 dollar per gallon, there will be a shortage of milk in the market

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d) the government regulates the prices at 1 dollar per gallon, there will be a surplus of milk in the market. Get Business Law homework help today

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