Use the Following to Answer Questions

question 121

Multiple Choice

Use the following to answer questions:
Figure: Price Ceiling of Ps
-(Figure: Price Ceiling of Ps) Refer to the figure. Suppose a price ceiling of Ps is imposed. The shaded area may likely represent all of the following EXCEPT:

• A) value of wasted time.
• B) the amount that buyers bribe sellers.
• C) the amount of corruption.
• D) consumer surplus.

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Definitions:

Ostracism

Being excluded, rejected, and ignored by others.

Excluded

To be deliberately left out or denied access to a group or activity.

Rejected

The state of being dismissed or turned down.

Ancient Greece

A civilization that flourished in the Mediterranean region from around the 8th century BC to the end of antiquity, influential in the fields of philosophy, science, politics, and the arts.