Lori, Audrey and Zach ??? ??? ??? if a price ceiling is not binding then the equilibrium price is below the price ceiling ??? ??? ??? Fig 7-2 when the price rises from P1 to P2, consumer surplus decreases by an amount equal to B+C ??? ??? ??? necessities such as food and clothing tend to have low price elasticities of demand and low income elasticities of demand ??? ??? ??? when a country allows t