Which of These Statements Explains Why Price Ceilings Result in Lost

question 250

Multiple Choice

Which of these statements explains why price ceilings result in lost gains from trade?

• A) Buyers and sellers want to trade, but the threat of fines or jail time prevents them from doing so.
• B) Sellers want to trade, but buyers prefer the lower prices.
• C) Buyers want to trade, but sellers are indifferent at the lower prices.
• D) Neither buyers nor sellers want to trade subject to a price ceiling resulting in lost gains from trade.

Understand the concept of environmental economics and its approach to managing pollution and external costs.

Understand the fundamental principles of tort liability.

Grasp the concept and application of duty of care in negligence.

Recognize the variabilities and limitations of parental and professional responsibility for torts.

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Definitions:

Ediacaran Period

The last (most recent) period of the Proterozoic eon, from 635 million to 541 million years ago; named for early animal fossils found in the Ediacara Hills in South Australia.

Gymnosperms

A group of seed-producing plants that include conifers and cycads, characterized by having seeds that are not enclosed in an ovary (fruit).

Large Dinosaurs

Large dinosaurs were prehistoric reptiles, including species like the Tyrannosaurus rex and Brachiosaurus, known for their massive size and diversity during the Mesozoic era.

Amino Acids

Organic compounds that serve as the building blocks of proteins, containing both amine and carboxyl functional groups.