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When a Price Is Set by Law or Regulation Below

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When a price is set by law or regulation below the equilibrium value,


Definitions:

Carrying Capacity

The maximum population size of a species that an environment can sustain indefinitely, given the food, habitat, water, and other necessities available in the environment.

Demographic Transition

A model describing how the birth and death rates of a population change over time as a country develops from pre-industrial to industrial economic system.

Environmental Resistance

Factors in the environment that limit the growth, abundance, or distribution of an organism or a population of organisms.

Replacement Reproduction

Population in which each person is replaced by only one child.

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