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:

Clastic Sedimentary Rocks

Clastic sedimentary rocks are formed from the accumulation and lithification of mechanical weathering debris, consisting mostly of fragments of older rocks.

Sociotechnical

Relating to the interaction between social and technical elements within an organization, focusing on the relationships between people and technology in work environments.

Cohesive

Characterized by unity and sticking together; forming a whole or working closely as a unified entity.

Semiformal

A term referring to practices or events that are not strictly formal but still adhere to certain established norms or rules.