Price Ceilings

question 55

Multiple Choice

Price ceilings:

• A) cause quantity to be higher than in the market equilibrium.
• B) always increase consumer surplus.
• C) may decrease consumer surplus if demand is sufficiently elastic.
• D) may decrease consumer surplus if demand is sufficiently inelastic.
• E) always decrease consumer surplus.

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Definitions:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification of mental disorders by the American Psychiatric Association.

Binge Eating Disorder

A serious eating disorder marked by recurrent episodes of eating large quantities of food often quickly and to the point of discomfort.

Food Restriction

The deliberate limitation of food intake, often practiced in the context of dieting, fasting, or eating disorders.

Semi-Starvation

A state of receiving insufficient calories to meet basic metabolic needs, which can result in severe physical and psychological effects.