Because a Price Ceiling Causes

question 40

Multiple Choice

Because a price ceiling causes:

• A) a shortage, some form of rationing must occur.
• B) excess supply, some form of rationing must occur.
• C) a shortage, the outcome will be efficient.
• D) excess supply, the outcome will be inefficient.

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Definitions:

Simplify

The process of altering an expression or equation to its most basic form without changing its value.

Domain

In mathematics, the set of all possible input values for which a function is defined.

Rational Function

A function represented by the ratio of two polynomials, where the denominator is not zero.

Rational Expression

A rational expression is a fraction where the numerator and/or the denominator are polynomials.