Price Ceilings Can Result in a Net Loss in Consumer

question 111

Multiple Choice

Price ceilings can result in a net loss in consumer surplus when the ________ curve is ________.

• A) demand; very elastic
• B) demand; very inelastic
• C) supply; very inelastic
• D) none of the above; price ceilings always increase consumer surplus

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Definitions:

Alcohol

A psychoactive substance found in beverages such as beer, wine, and spirits, known for its mind-altering effects and potential for abuse and dependency.

Extra-chromosome Condition

A genetic disorder characterized by the presence of an additional chromosome in an individual's cells, such as Down syndrome.

Fragile X Syndrome

A genetic disorder caused by a mutation on the X chromosome, leading to intellectual disabilities, behavioral issues, and physical anomalies.

Chromosomes

Thread-like structures located in the nucleus of animal and plant cells, made of protein and a single molecule of DNA, which carry genetic information.