If You Put Some Water in a Bucket and Left

question 39

Multiple Choice

If you put some water in a bucket and left it in your backyard, the water level would rise and fall over time with the weather. The table represents data collected from a bucket that was initially filled to the halfway mark with water. The water depth was measured on the first of the month for 2 years. Although the water never completely dried up, it also never overflowed during this time. Answer the following question(s) based on the data.

-What is the most likely expectation during the third year?

• A) The water level will return to 30 cm.
• B) The water will overflow the bucket or nearly so.
• C) The water in the bucket will dry up.
• D) None of these are indicated by the data.

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Definitions:

Price Ceilings

A legal maximum price set below the equilibrium price for a good or service, aimed at preventing prices from becoming too high.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy is equal to the amount that sellers want to sell, resulting in a balanced market.

Shortages

The situation where the demand for a product or service exceeds its supply in a market.

Price Ceiling

A government-imposed limit on the price charged for a product or service, intended to prevent prices from becoming too high.