Price Controls ________

question 102

Multiple Choice

Price controls ________.

• A) result in deadweight loss if they cause a change in the market quantity
• B) redistribute surplus from one side of the market to another (e.g. from producers to consumers or vice versa)
• C) redistribute surplus within the side of the market that is a net beneficiary of the price control from those who are queued out of the market to those who can still buy/sell
• D) all of the above

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Definitions:

Macroeconomic Environments

The overarching economic conditions affecting topics such as inflation, unemployment, and economic growth on a large scale.

Expected Income

The amount of income an individual or entity anticipates earning over a specific period.

Utility

An economic term referring to the total satisfaction received from consuming a good or service.

Utility

A measure of satisfaction, usefulness, or pleasure obtained from consuming goods and services.