When a Price Ceiling Is Imposed in a Market and the Ceiling

question 188

Multiple Choice

When a price ceiling is imposed in a market and the ceiling is binding,

• A)price no longer serves as a rationing device.
• B)the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling.
• C)buyers and sellers both benefit in equal measure.
• D)buyers and sellers both are harmed in equal measure.

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Definitions:

Sensory Receptors

Specialized cells or nerve endings that respond to changes in the environment by converting them into electrical signals sent to the brain.

Pheromones

Chemical substances released by animals and humans that trigger social responses in members of the same species.

Sexual Mates

Individuals selected based on certain criteria or preferences for engaging in sexual reproduction or activity.

Prosopagnosia

Face blindness, a neurological issue that results in the inability to identify faces.