Price Controls Will Tend to Cause Misallocation of Resources Because

question 19

Multiple Choice

Price controls will tend to cause misallocation of resources because

• A) production (or opportunity) cost no longer corresponds to market price.
• B) people are unable to determine their preferences at the high or low price.
• C) producers no longer have incentive to be profitable.
• D) consumers no longer have incentive to spend their income efficiently.

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Definitions:

Random Access

The ability to access an arbitrary element of a sequence in constant time, typically associated with data stored in memory or on disk.

List Interface

An ordered collection in Java that allows for the storage and manipulation of elements.

Repetition

A concept in programming that involves executing a block of code multiple times, typically through loops such as while, for, and do-while loops.

Set Interface

An interface in Java Collections Framework representing a collection that contains no duplicate elements, designed for storing unique elements.