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4 Cards in this Set
- Front
- Back
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Price Ceiling
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A government-mandated maximum price above which legal trades cannot be made. Under the Equilibrium price
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Tie-in Sale
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a sale whereby one good can be purchased only if another good is also purchased
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Price Floor
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A government-mandated minimum price below which legal cannot be made. Above the Equilibrium Price
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Deadweight Loss
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The loss to society of not producing the competitive, or supply-and-demand-determined, level of output
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