A Price Ceiling Will Have No Effect If

question 120

Essay

A price ceiling will have no effect if:
A.it is set above the equilibrium price.
B.the equilibrium price is above the price ceiling.
C.it is set below the equilibrium price.
D.it creates a shortage.

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Definitions:

Return Component

An element of a system or device that is designated to be sent back to the manufacturer or repair center for refurbishment, repair, or recycling.

SCM

Supply Chain Management (SCM) is the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.

Inventory

Inventory refers to the total amount of goods and materials held in stock by a business, warehouse, or storage facility.

Goods And Services

Goods and services are the products and activities that satisfy human wants; goods are physical items, while services are non-tangible activities or benefits.