Figure 6-6 -Refer to Figure 6-6. When a Certain Price Control Is

question 60

Multiple Choice

Figure 6-6

-Refer to Figure 6-6. When a certain price control is imposed on this market, the resulting quantity of the good that is actually bought and sold is such that buyers are willing and able to pay a maximum of P₁ dollars per unit for that quantity and sellers are willing and able to accept a minimum of P₂ dollars per unit for that quantity. If P₁ − P₂ = $3, then the price control is

• A)only a price ceiling of $3.00.
• B)only a price ceiling of $6.00.
• C)only a price floor of $6.00.
• D)either a price ceiling of $3.00 or a price floor of $6.00.

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The capacity to understand, produce, and use complex systems of communication, particularly the human ability to do so.

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