If the Equilibrium Price of Natural Gas Is $4 Per

question 186

Multiple Choice

If the equilibrium price of natural gas is $4 per thousand cubic feet and a price ceiling is imposed at $3 per thousand cubic feet, the result will be:

• A) a surplus of natural gas.
• B) a shortage of natural gas.
• C) an accumulation of inventories of unsold gas.
• D) None of the above.

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Definitions:

Pitch

A term used in both music and acoustics to describe the perceived frequency of a sound, determining how high or low it sounds.

High-Pitched

Sounds that have a high frequency, often perceived as sharp or squeaky.

Low Frequency

Pertains to waves, such as sound or electromagnetic waves, that have a relatively low rate of oscillation or cycles per second.

Place Theory

A theory in psychology that proposes the perception of sound depends on where each component frequency produces vibrations along the basilar membrane of the inner ear.