Which Statement Is TRUE in a Market with a Price

question 319

Multiple Choice

Which statement is TRUE in a market with a price ceiling?

• A) Buyers and sellers experience unexploited gains from trade.
• B) Resources are allocated to their most efficient uses.
• C) The supply of goods is sold by the sellers with the lowest costs.
• D) The supply of goods is bought by the buyers with the highest willingness to pay.

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Definitions:

Fuel-Air Explosive

A type of weapon that disperses fuel into the air and ignites it, creating a large blast wave of high temperature and pressure.

Detonator

A device used to trigger an explosion in dynamite and other high explosives, typically initiating a larger, secondary explosive charge.

Lower Explosion Limit (LEL)

The lowest concentration of a particular gas or vapor in air that can produce a flash of fire in presence of an ignition source.