Business
Business, 13.06.2020 03:57, ash34321

Complete the following paragraph by pulling down the correct word or phrase. When the government imposes a binding price ceiling on loaves of bread, producers will want to supply (a) bread and consumers will demand (b) bread. Therefore, a binding price ceiling will lead to a (c) of bread. The price ceiling will have other effects as well. The size of a loaf of bread and the quality of bread would (d) . Although the consumers lucky enough to buy bread would pay a lower price, their opportunity cost of buying bread would (e) . The price ceiling would also cause other changes over time. In the long run, the demand for and supply of bread becomes (f) elastic, leading to a (g) .

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Complete the following paragraph by pulling down the correct word or phrase. When the government imp...

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