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    Question

    If a price ceiling is not binding then 

    A There will be a surplus in the market Correct Answer Incorrect Answer
    B There will be a shortage in the market Correct Answer Incorrect Answer
    C The market would be less efficient than it would be without the price ceiling Correct Answer Incorrect Answer
    D There would be no effect on the market price and quantity sold Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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