If a Legal Ceiling Price Is Set Above the Equilibrium

question 59

Multiple Choice

If a legal ceiling price is set above the equilibrium price,

• A) a shortage of the product will occur.
• B) a surplus of the product will occur.
• C) a black market will evolve.
• D) neither the equilibrium price nor the equilibrium quantity will be affected.

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Definitions:

Destructive Stress

Stress that exceeds an individual's ability to cope, leading to negative psychological or physical effects and potentially impairing performance and well-being.

Job Burnout

A state of physical or emotional exhaustion caused by prolonged stress or frustration, particularly in the workplace.

Overtly Aggressive Behaviour

Actions that are openly hostile, confrontational, or intended to dominate or control others.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others.