What Happens If a Binding Price Ceiling Is Imposed in a Market

question 51

Multiple Choice

What happens if a binding price ceiling is imposed in a market

• A)There will be a surplus in the market.
• B)The price will be legally forced toward equilibrium price.
• C)There will be a shortage in the market.
• D)Market forces will guarantee that the price will be at equilibrium.

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Definitions:

Nonmalficence

A fundamental ethical principle in healthcare meaning "do no harm", guiding professionals to avoid causing harm to patients.

Healthy Coping

Strategies or mechanisms that an individual uses to manage stress, adversity, or trauma in a positive and constructive manner.

Ethical Principle

Fundamental guidelines that dictate the behaviors and decisions of individuals or groups, often in professional settings.

Cultural Skillful Practitioner

An individual adept at understanding and navigating different cultural contexts within their professional practice.