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Price ceilings create five important effects: _______________
a. excess demand, long lines, poor service, efficiency, and arbitrage.
b. surpluses, increases in product quality, search costs, gains from trade, and resource attrition.
c. shortages, reduced time costs, low vacancy rates, blat, and deadweight loss.
d. shortages, reductions in product quality, wasteful lines, a loss of gains from trade, and a misallocation of resources.
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