If a Good Is Subject to a Binding Price Ceiling

question 77

Multiple Choice

If a good is subject to a binding price ceiling and you purchase it on the black market,what do you expect to happen to the availability of the good over time?

• A) The availability of the good will rise over time as the supply curve becomes more elastic and the demand curve becomes more inelastic.(The shortage of the good will fall.)
• B) The availability of the good will fall over time as both the supply and demand curves become more elastic.(The shortage of the good will fall.)
• C) The availability of the good will fall over time as both the supply and demand curves become more elastic.(The shortage of the good will rise.)
• D) The availability of the good will rise over time as the demand curve becomes more elastic and the supply curve becomes more inelastic.(The shortage of the good will fall.)
• E) The availability of the good will not change over time.

---

Definitions:

Gender Identity

An individual’s personal sense of their own gender, which may or may not correspond with the sex they were assigned at birth.

Lesbian Sexual Orientation

A sexual orientation characterized by a romantic or sexual attraction to individuals of the same gender, specifically between women.

Cannon-Bard Theory

A theory of emotion suggesting that physiological arousal and emotional experience occur simultaneously and independently.

Emotional States

The internal conditions that arise from feelings, which can affect thoughts, behaviors, and physical responses.