When a Price Ceiling Is Binding, the Goods That Are

question 41

Multiple Choice

When a price ceiling is binding, the goods that are on sale are allocated to buyers using a method:

• A) of random allocation.
• B) whereby the highest bidder wins.
• C) whereby the lowest bidder wins.
• D) whereby buyers purchase lottery tickets to see who will be able to buy the product.

---

Definitions:

Basalt

A dark, fine-grained volcanic rock that is low in silica content.

Orbiting Spacecraft

Orbiting spacecraft are human-made vehicles or satellites that revolve around Earth or other celestial bodies, utilized for communication, research, and observation.

Returned Samples

Physical specimens that have been collected from specific locations and returned to a laboratory or facility for analysis.

Geologists

Scientists who study the Earth, its materials, processes, history, and how these factors have shaped the Earth's surface and interior.