Llustrate the black market for lnternet access

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Reference no: EM1345679

Suppose that the U.S. government places a ceiling on the price of Internet access.

a. Show why there is a shortage of lnternet access at the legal Price.

b. Assume that a black market for Internet providers arises, with Internet service providels developing hidden connections. Illustrate the black market for lnternet access, comprising the implicit supply schedule. the legal price. the black market supply and clemand. and the highest feasible black market priee.

Reference no: EM1345679

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