Do Price Ceilings Misallocate Resources

question 81

Multiple Choice

Do price ceilings misallocate resources?

• A) Yes, because people who value the good the most are unable to bid it away from low-valued uses.
• B) Yes, because people who value the good the least are unable to afford the good.
• C) No, because the good is still allocated based on willingness to pay.
• D) No, because the rich and poor alike stand an equal chance in getting the good.

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Definitions:

Macrosociology

A branch of sociology that focuses on the study of society as a whole and large-scale social structures.

Christine Williams

A sociologist renowned for her contributions to the study of gender, work, and occupations, particularly in fields traditionally dominated by one gender.

Macrosociology

A branch of sociology that focuses on the study of large-scale social systems and long-term processes, including societal evolution and social structures.

Microsociology

The study of individual and face-to-face interactions, focusing on how people behave in small group settings.