Examlex
Which of the following are true about action queries? Select all the options that apply.
Price Ceiling
A price ceiling is a regulatory limit on the price that can be charged for a commodity in the market, intended to protect consumers from excessively high prices.
Price Floor
A price floor is a government- or group-imposed price control that prevents a price from falling below a certain level, ensuring producers receive a minimum payment for their goods or services.
Perfectly Elastic
A situation in demand or supply where the quantity demanded or supplied changes infinitely in response to any change in price.
Perfectly Inelastic
Describes a market scenario where the demand or supply for a product remains unchanged even when the price changes.
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