The Table Given Below Reports the Quantity Demanded and Supplied

question 12

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5


-Refer to Table 3.5.
If government imposes a price ceiling of $2:

• A)the price will be above equilibrium.
• B)the price will fall to $1 because producers will be forced to incur losses.
• C)demand will increase.
• D)a surplus will result equal to 20 units.
• E)a shortage will result equal to 20 units.

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Definitions:

Flexible Work Arrangement

Employment terms that allow workers flexibility on how long, where, and when they work.

Lateness

The state or condition of occurring after the expected, arranged, or usual time.

Compressed Workweek

An alternative work arrangement where employees work longer hours per day but for fewer days in a workweek to complete their full-time hours.

Job Satisfaction

The level of contentment employees feel toward their jobs, influencing their motivation, performance, and likelihood of staying with the company.