At a Price Ceiling of $1 Per Loaf of Bread

question 59

Multiple Choice

At a price ceiling of $1 per loaf of bread, quantity supplied is 99 loaves, which is less than quantity demanded. What must be true for the 100th loaf of bread?

• A) Consumers do not value the 100th loaf of bread.
• B) The cost of producing the 100th loaf of bread is less than $1.00.
• C) Consumers value the 100th loaf of bread at less than $1.00.
• D) Consumers value the 100th loaf of bread more than it costs producers to make it.

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Definitions:

Exclusionary Rule

A rule of law in the United States that bars the use of evidence obtained or examined in contravention of the defendant's constitutional protections in legal proceedings.

Supreme Court

The Supreme Court is the highest judicial body in a country, typically having the ultimate jurisdiction over all other courts.

Fifth Amendment

An amendment to the U.S. Constitution that provides various rights related to legal proceedings, including protection against self-incrimination and double jeopardy.

Self-Incrimination

The act of exposing oneself to criminal prosecution by making statements or producing evidence.