Which of the Following Is True

question 151

Multiple Choice

Which of the following is true?
i.A price support is inefficient.
ii.A price floor set above the equilibrium price creates a surplus.
iii.A price ceiling set above the equilibrium price creates a black market.

• A) Only i
• B) Only ii
• C) Only iii
• D) i and ii
• E) ii and iii

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Definitions:

Communication

The exchange of information or ideas through various channels and methods, including verbal, non-verbal, written, and digital forms.

Custom

A traditional and widely accepted way of behaving or doing something that is specific to a particular society, place, or time.

Strengthen Capitalism

Efforts or actions taken to bolster the efficiency, competitiveness, and innovation within capitalist economic systems.

Safer Working Conditions

Refers to workplace environments designed to minimize risk of injury or harm to employees, adhering to health and safety regulations.