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Answer to Question #61026 in Microeconomics for jerrod

Question #61026
Assume that the equilibrium price of a​ doctor's visit is​ $50, and the government places a price ceiling of​ $40 on a​ doctor's visit. The result will be
A.
a surplus
B.
first a shortage then equilibrium
C.
equilibrium
D.
a shortage
Expert's answer
D. a shortage.

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