Price Floors and Price Ceilings

question 1

Multiple Choice

Price floors and price ceilings

• A)always reduce total surplus.
• B)reduce consumer surplus and increase producer surplus.
• C)reduce producer surplus and increase consumer surplus.
• D)Not enough information to determine.

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Definitions:

Brain

The organ located within the skull that is the center of the nervous system in all vertebrates and most invertebrates, responsible for coordinating sensation, intellectual and nervous activity.

Pituitary Gland

A pea-sized gland located at the base of the brain that produces hormones regulating growth, blood pressure, and other important body functions.

Endocrine System

A network of glands in the body that secretes hormones directly into the bloodstream to regulate bodily functions.

Master Gland

A term often used to describe the pituitary gland due to its central role in regulating numerous other endocrine glands in the body.