A Binding Price Ceiling

question 34

Multiple Choice

A binding price ceiling
(i) Causes a surplus.
(ii) Causes a shortage.
(iii) Is set at a price above the equilibrium price.
(iv) Is set at a price below the equilibrium price.

• A)(ii)only
• B)(iv)only
• C)(i)and (iii)only
• D)(ii)and (iv)only

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Definitions:

Marine Mammal Scientist

A researcher who studies the biology, behavior, and conservation of mammals living in ocean environments.

Dolphins

Aquatic mammals known for their intelligence, social nature, and abilities to communicate, play, and perform complex behaviors.

Stress

The body's response to any demand or challenge, which can be triggered by both positive and negative experiences.

Unethical

Acting in ways that go against moral principles and professional standards.