Refer to the Figure Below

question 120

Multiple Choice

Refer to the figure below. Suppose a consumer protection group convinces the government to impose price controls in this market. If the government requires cheese to be sold for less than the equilibrium price, then, relative to before the price controls, total consumer surplus in the market:

• A)would increase because consumers would be able to purchase the same quantity of cheese at a lower price.
• B)would increase because consumers would be able to purchase more cheese at a lower price.
• C)could either increase or decrease.
• D)would decrease because of the reduction in equilibrium price.

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Definitions:

Flexibility

The quality of bending easily without breaking, often referring to the range of motion available in a joint or series of joints.

Maintain Balance

The process or act of keeping things in a steady state or equilibrium.

Ambulatory Aids

Equipment designed to assist individuals in walking or improving mobility.

Nonslip Walking Surface

A type of flooring designed to prevent slipping and falls, commonly used in work areas, bathrooms, and other places prone to wetness or spills.