If a Price Ceiling of $2 Per Gallon Is Imposed

question 150

True/False

If a price ceiling of $2 per gallon is imposed on gasoline,and the market equilibrium price is $1.50,the price ceiling is a binding constraint on the market.

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Definitions:

Genetic Engineering

The direct manipulation of an organism's genes using biotechnology to alter its characteristics.

Organic

Refers to foods that are grown or produced without the use of synthetic pesticides, chemical fertilizers, genetically modified organisms, or ionizing radiation.

Portion Size

The amount of a particular food that is served or consumed in one occasion, impacting calorie intake and nutritional balance.

Healthy Diet

A balanced consumption of food that provides the necessary nutrients to support overall health and body function.