Which of the Following Is a Likely Outcome of Price

question 141

Multiple Choice

Which of the following is a likely outcome of price controls and quota limits?

• A)prices higher than the market equilibrium price
• B)illegal activity as people invent ways to get around the market constraint
• C)shortages and units of output that must be disposed of
• D)shortages and inefficiency created by buyers searching for units of the good

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Definitions:

Designated Beneficiary

A person named in a legal document who is authorized to receive benefits or assets upon the death of the owner or holder of the document.

Specific Sum

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Contractors' Liability Insurance

Insurance coverage that protects contractors against claims arising from injuries or damages to other people or property during the construction process.

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Harm or damage incurred or suffered by a person’s body, property, rights, or reputation, typically due to someone else’s negligence or unlawful action.