Which of the Following Statements About Price Ceilings Is TRUE

question 196

Multiple Choice

Which of the following statements about price ceilings is TRUE? I. Price ceilings cause quantity demanded to exceed quantity supplied. II. When including time costs and bribes, consumers pay a total price in excess of the price ceiling. III. All else equal, it is more wasteful to allocate goods based on bribes than on waiting time costs.

• A) I only
• B) II and III only
• C) I and II only
• D) I, II, and III

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Definitions:

Tumor Suppressor Genes

Genes that help regulate cell growth and division, and can prevent the development of tumors by repairing DNA, promoting cell death, or ensuring cells do not proliferate uncontrollably.

Apoptosis Initiator

A molecule or signaling pathway that triggers the process of programmed cell death, crucial for development and maintaining homeostasis.

Apoptosis

A form of programmed cell death that occurs in multicellular organisms, helping to eliminate cells that are no longer needed or are harmful.

Proto-oncogenes

Proto-oncogenes are normal genes that can become oncogenes when mutated or expressed at high levels, potentially leading to cancer.