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Suppose you observe three star clusters. Cluster 1 has a main-sequence turnoff point at spectral type G, Cluster 2 has a turnoff point at spectral type A, and Cluster 3 has a turnoff point at spectral type B. Which cluster is youngest and which is oldest? Explain why. What is the approximate age of the oldest cluster?
Price Ceiling
A legal maximum price for a good or service, above which it cannot be sold, typically set by government to protect consumers.
Shortage/Surplus
A state in the market where the demand for goods exceeds the supply, leading to a shortage, or where the supply surpasses demand, resulting in a surplus.
Price Floor
A government- or group-imposed limit on how low a price can be charged for a product, intended to prevent prices from dropping too low.
Shortage/Surplus
A market condition: shortage occurs when demand exceeds supply, and surplus happens when supply exceeds demand.
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