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Unformatted text preview: possibility to get resources lost back. If market is acting the way it should with everyone following the rules, you still have deadweight loss. With a rent ceiling, the outcome is inefficient. Total surplus sum of producer & consumer surplus shrinks and a deadweight loss arises. What if rent ceiling is above the equilibrium price? Invisible hand would push things around. Rent ceiling would be useless because point is lower. EXAM: Chapters 1 6 33 MC questions Bubble in information ahead of time Bring a calculator no recitation, homework, or quiz next week...
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