If the Government Imposes a Maximum Price for Milk That

question 78

Multiple Choice

If the government imposes a maximum price for milk that is above the equilibrium price,

• A) this maximum price for milk will have no economic impact.
• B) quantity demanded of milk will be less than quantity supplied.
• C) demand for milk will be greater than supply.
• D) the available milk supply will have to be rationed.

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Definitions:

Human

A member of the species Homo sapiens, characterized by advanced cognitive abilities and society-building behavior.

Social Dominance Orientation

is an attitude characterized by a preference for hierarchy within societies and the domination of lower-status groups by higher-status groups.

Social Order

The organized pattern of social relationships and social institutions that together compose society.

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A particular position, point, or area in space; a location.