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प्रश्न
Which of the following statements is correct in case of price ceiling of a commodity fixed by the government?
विकल्प
It is the maximum legal price
It is fixed below the equilibrium price
It will create the shortage of the commodity
All the three
MCQ
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उत्तर
All the three
Explanation:
A price ceiling is a maximum legal price and is effective when set below the equilibrium price. At this lower price, quantity demanded exceeds quantity supplied, creating a shortage; therefore, all three statements are correct.
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