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Chapter 6

Description

Supply, Demand, and Government Policies

Flashcards by murphy94, updated more than 1 year ago

	Created by murphy94 almost 9 years ago

Resource summary

Question	Answer
Price Ceiling	a legal maximum on the price a good can be sold
Price Floor	a legal minimum on the price at which a good can be sold
Tax Incidence	the manner in which the burden of a tax is shared among participants in a market

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