When a Binding Price Ceiling Is Imposed on a Market

question 52

Multiple Choice

When a binding price ceiling is imposed on a market to benefit buyers,

• A)no buyers actually benefit.
• B)some buyers benefit,but no buyers are harmed.
• C)some buyers benefit,and some buyers are harmed.
• D)all buyers benefit.

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Definitions:

Elasticity

The ability of an object or material to resume its normal shape after being stretched or compressed.

Tympanic Membrane

The eardrum; a thin membrane that separates the outer ear from the middle ear and vibrates in response to sound waves.

Fungal Infection

An invasion of one or more species of fungi on parts of the body, which can cause a variety of symptoms depending on the area affected.