A Price Ceiling That Sets the Price of a Good

question 187

Multiple Choice

A price ceiling that sets the price of a good below market equilibrium will cause:

• A) An increase in quantity demanded of the good.
• B) A decrease in quantity supplied of the good.
• C) A shortage of the good.
• D) All of the above.

---

Definitions:

Biologically Extinct

A status where a species no longer exists in the wild or in any viable, self-sustaining population numbers.

Endangered

A status indicating that a species is at risk of extinction across all or a significant portion of its range due to various threats such as habitat loss, pollution, or predation.

Endangered Species

Species at risk of extinction due to a rapid decrease in population or loss of habitat, often caused by human activities.

Threatened Species

Plants, animals, or microbes at risk of becoming endangered within the foreseeable future throughout all or a significant portion of their habitat.