Suppose the Equilibrium Price of Oranges Is $0

question 35

Multiple Choice

Suppose the equilibrium price of oranges is $0.79 an orange, but government takes steps to prevent the price from exceeding $0.60 an orange. The likely result will be a:

• A) lower equilibrium price for oranges as the supply curve for oranges shifts to the right.
• B) higher equilibrium price for oranges as the demand curve for oranges shifts to the right.
• C) shortage of oranges as the price ceiling keeps the market from reaching equilibrium.
• D) surplus of oranges as the price ceiling keeps the market from reaching equilibrium.

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Definitions:

Hearing

The faculty of perceiving sounds, which occurs when sound waves are converted into electrical signals and interpreted by the brain.

Middle Ear

The section of the ear between the eardrum and the oval window, containing the three auditory ossicles that transmit sound.

Vibrations

Oscillations that occur in various physical entities, which can be felt or heard as waves through mediums like air or water.

Balance

The ability of the body to maintain its center of mass over its base of support, a function involving sensory input, integration by the brain, and output to muscles.