Prohibiting Price Increases in Situations of True Scarcity Could Best

question 155

Multiple Choice

Prohibiting price increases in situations of true scarcity could best be described as

• A)interfering with the "law" of supply and demand.
• B)thwarting the "law" of increasing returns to scale.
• C)violating the "law" of increasing cost.
• D)interfering with the "law" of diminishing marginal utility.

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Definitions:

Dutch Reclamation

The process of creating land from sea, lakes, or swamps in the Netherlands, involving the use of dikes and drainage canals.

Sea

is a large body of salt water that is often connected to an ocean and may be partially or completely enclosed by land.

Land

The part of the earth's surface that is not covered by water, including properties, territories, and physical features.

Duke of Northumberland

A title in the peerage of England, historically associated with several notable individuals, often playing significant roles in political and military affairs of the country.