Suppose a New Law Requires All Piercing Studios to Pass

question 259

Multiple Choice

Suppose a new law requires all piercing studios to pass tougher licensing tests and to begin using more costly sterilization methods. Other things constant, this law would cause

• A) an increase in the supply of piercings and a lower price for piercings.
• B) an increase in the supply of piercings and a higher price for piercings.
• C) a decrease in the supply of piercings and a higher price for piercings.
• D) a decrease in the supply of piercings and a lower price for piercings.

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Definitions:

Purpose

The justification or rationale for an item's creation or being.

Budget

An estimate of income and expenditure for a set period of time.

Guidelines

A set of recommendations or principles provided to direct actions or standards of behavior in specific situations.

Style

The distinct manner or technique an author uses in writing or creation, including elements of language, punctuation, and presentation.