If a Nonbinding Price Ceiling Is Imposed on a Market,then

question 138

Multiple Choice

If a nonbinding price ceiling is imposed on a market,then the

• A)quantity sold in the market will decrease.
• B)quantity sold in the market will stay the same.
• C)price in the market will increase.
• D)price in the market will decrease.

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Definitions:

Disjunction

The logical inclusionary operation indicating that if one or more of several propositions is true, the overall statement is true; emphasizes a different aspect of combining statements.

Biconditional

A logical statement where both parts imply each other; often phrased as "if and only if."

Component

A constituent part or element of a larger whole.

Contradictory

Referring to statements or propositions that directly oppose each other such that if one is true, the other must be false.