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02-06-2023
Business

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The current equilibrium proce of specific type of automatics is $23,000. An increase of a price ceiling on a automaticly from $20,000 to $25,000 will do what to the amount soid in the market and to the price of automatics?
a. The price of automobiles will increase to $25,000 and fewer will be sold
b. The proce of automobiles will increase and more will be sold
c. The proce of automobiles will not change and no more will be sold
d. The proce ceiling must not be effective as the equilibrium price is above the initial price ceiling

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