Microeconomics: Principles, Applications, and Tools (8th Edition)

Published by Prentice Hall
ISBN 10: 0-13294-886-9
ISBN 13: 978-0-13294-886-9

Chapter 6 - Market Efficiency and Government Intervention - Exercises - 6.2 Market Equilibrium and Efficiency - Page 147: 2.4

Answer

consumers; producers; consumers

Work Step by Step

The consumers who are able to obtain the limited supply benefit from the lower price. Other consumers are harmed because of the lack of the supply. Suppliers who cannot afford to sell at the maximum price are harmed by being pushed out of the market.
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