A Price Ceiling Is

question 63

Multiple Choice

A price ceiling is

• A)often imposed on markets in which "cutthroat competition" would prevail without a price ceiling.
• B)a legal maximum on the price at which a good can be sold.
• C)often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling.
• D)All of the above are correct.

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Definitions:

Need Theories

Psychological theories that identify and categorize human needs driving behavior, often focusing on how these needs influence work motivation and management.

Process Theories

Motivation theories that specify the details of how motivation occurs.

Need Theories

Psychological theories that describe the kinds of needs that motivate human behavior, such as Maslow's hierarchy of needs.

Managerial Implications

The practical consequences or effects of management theories, studies, or practices on organizational leadership and decision-making.