A Law That Sets a Maximum Price Generally Below Equilibrium

question 67

Multiple Choice

A law that sets a maximum price generally below equilibrium is called a price:

• A) ceiling.
• B) floor.
• C) point.
• D) equilibrium.

---

Definitions:

Pre-read

The act of briefly scanning or reviewing material before a detailed examination or study.

Quotation Marks

Punctuation marks used to indicate the exact words spoken or written by someone else.

Analyzing

The process of examining components or data closely to understand their relationship, structure, or meaning.

Context

The circumstances or background that provides understanding and relevance to a specific event, statement, or idea.