A Price Ceiling Is

question 53

Multiple Choice

A price ceiling is

• A) a minimum price set by government that sellers may charge for a good.
• B) a maximum price set by government that sellers may charge for a good.
• C) the difference between the initial equilibrium price and the equilibrium price after a decrease in supply.
• D) the minimum price that consumers are willing to pay for a good.

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Definitions:

Label

An element in user interfaces used to display text to the user, often describing another interface control.

If Statement

A conditional statement in programming that executes a block of code if a specified condition is true.

Visual Basic Window

A component of the Visual Basic development environment that allows users to write, view, and manage Visual Basic code.

Action Catalog

A collection of actions or commands in software, often used in context with databases or programming environments for easy access to common tasks.