Virginia Tech ECON ECON 2005 Which of the following is a correct statement?
the minimum wage are both illustrations of price floors. Rent control is an illustration of a price floor and the minimum wage is an illustration of a price ceiling. Rent control and the minimum wage are neither illustrations of price floors nor price ceilings. Rent control is an illustration of a price ceiling and the minimum wage is an illustration of a price floor. Rent control and the minimum wage are both illustrations of price ceilings.
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