Scenario: Consider the Following Figure, Which Shows a Competitive Market

question 209

Multiple Choice

Scenario: Consider the following figure, which shows a competitive market. Suppose the government imposes a price ceiling policy of $2 on this market.

-Refer to the above scenario.This $2 price control policy is mainly intended to benefit ________ of this good.

• A) the consumers
• B) the producers
• C) both the consumers and the producers
• D) neither the consumers nor the producers, but the government itself

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Definitions:

Morphine

A powerful opiate analgesic drug derived from the opium poppy, used for pain relief.

Cephalothorax

The fused head and thorax found in certain arthropods, including spiders and crustaceans.

Arachnids

A class of joint-legged invertebrate animals that includes spiders, scorpions, ticks, and mites.

Myriapods

A group of arthropods that includes centipedes and millipedes, characterized by having numerous legs.