Which of the following statement is false?     A price ceiling that is set above the equilibrium price does not affect total surplus.     A binding price floor always creates deadweight loss and always reduces both producer and consumer surplus.     A price floor that is set above the equilibrium price creates a surplus.

Managerial Economics: A Problem Solving Approach
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Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
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Chapter2: The One Lesson Of Business
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Which of the following statement is false?

   

A price ceiling that is set above the equilibrium price does not affect total surplus.

   

A binding price floor always creates deadweight loss and always reduces both producer and consumer surplus.

   

A price floor that is set above the equilibrium price creates a surplus.

   

A binding price ceiling always decreases producer surplus but might increase or decrease consumer surplus.

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