The Price Paid by Buyers in a Market Will Increase

question 160

Multiple Choice

The price paid by buyers in a market will increase if the government
(i) Increases a binding price floor in that market.
(ii) Increases a binding price ceiling in that market.
(iii) Decreases a tax on the good sold in that market.

• A)(ii)only
• B)(iii)only
• C)(i)and (ii)only
• D)(i), (ii),and (iii)

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Definitions:

Freckles

Small, pigmented spots on the skin, typically appearing as a result of exposure to sunlight and predominantly seen in people with lighter skin.

Diameter

A straight line passing from side to side through the center of a body or figure, especially a circle or sphere, representing the longest distance across it.

Friction Ridges

The raised portions of the epidermis on the fingers and thumbs, palms, soles, and toes, creating distinctive patterns used for identification in forensic analysis.

Reticular Layer

The deeper layer of the dermis in the skin, consisting of dense irregular connective tissue that provides strength and elasticity.