Policymakers Sometimes Are Attracted to Price Controls Because

question 182

Multiple Choice

Policymakers sometimes are attracted to price controls because

• A)they view the market's outcome as inefficient.
• B)they view the market's outcome as unfair.
• C)it is politically popular to impose price controls in markets in which the demand for the good or service is inelastic.
• D)they are required to do so under the Employment Act of 1946.

Relate the concepts of consumer surplus and deadweight loss to the efficiency of monopolies and perfectly competitive firms.

Understand the concept of price discrimination and its impact on consumer groups.

Analyze the effect of perfect price discrimination on economic welfare, consumer surplus, and profits.

Recognize the conditions necessary for effective price discrimination.

---

Definitions:

Osteoporosis

A medical condition characterized by the weakening of bones, making them fragile and more likely to fracture.

Lifestyle Changes

Modifications or adjustments made in daily habits and practices to improve health and well-being.

Bone Scans

Bone scans are nuclear imaging tests that detect bone damage or diseases, such as cancer, infections, or fractures, by injecting radioactive tracers into the bloodstream.

Diagnose

The process of identifying a disease or condition from its signs and symptoms through examination, testing, and analysis.