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When does a maximum price become binding?
A
It must be set below the average cost of production.
B
It must be set below the free-market equilibrium price.
C
It must be set at the free-market equilibrium price.
D
It must be set above the free-market equilibrium price.
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3.2.4 maximum and minimum prices Flashcards
26 flashcards on CIE Intl A Level Economics 3.2.4 maximum and minimum prices: the key terms and definitions you need to recall.