Which of the following statements regarding government intervention in markets is true?
a. Price floors are used to help consumers avoid high market prices.
b. Price ceilings always benefit sellers and harm buyers; society may or may not be harmed.
c. To be effective, a price floor should be set below the market equilibrium price and a price
ceiling should be set above the market equilibrium price.
d. Government intervention in the market is always bad for society because free markets
always allocate society's scarce resources in the most efficient way possible.
e. NONE OF THE ABOVE