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:

Ethical

Pertaining to or dealing with morals, the principles of morality pertaining to right and wrong conduct.

Moral

Pertaining to principles or rules of right conduct or the distinction between right and wrong; ethical.

Emotional Maturity

The ability to understand, manage, and express one's emotions effectively and appropriately.

Self-Control

The ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses.