Which of the Following Statements Best Differentiates Price Ceilings and Price

question 94

Multiple Choice

Which of the following statements best differentiates price ceilings and price floors?

• A)Price ceilings represent minimum prices,while price floors represent maximum prices.
• B)Binding price ceilings are always set below the equilibrium price,whereas binding price floors are always set above the equilibrium price.
• C)Price ceilings are always effective,whereas price floors are rarely effective.
• D)Price floors cause shortages to appear,whereas price ceilings have the opposite effect.
• E)Price ceilings and price floors have the same effects.

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Definitions:

Magical Powers

These are abilities in fantasy or supernatural genres that allow characters or beings to perform actions beyond the natural world's laws.

Spell

A verbal or written formula thought to have magical force, used to bring about a specific desired outcome.

Divination Technique

A method or practice used in various cultures to seek knowledge of the future or the unknown, often involving interpreting patterns in physical objects or phenomena.

Necromancy

The practice of communicating with the dead to predict the future or discover hidden knowledge.