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:

Complex Carbohydrate

Carbohydrates consisting of long chains of monosaccharide units bound together, offering energy and fiber.

Sucrose

A disaccharide composed of glucose and fructose, commonly known as table sugar and used as a sweetener and preservative.

Gallbladder

A small organ located under the liver that stores bile, a fluid produced by the liver to digest fats.

Bile

Bile is a digestive fluid produced by the liver and stored in the gallbladder, aiding in the digestion and absorption of fats in the small intestine.