When There Is a Price Ceiling There Will Be

question 6

Multiple Choice

When there is a price ceiling there will be

• A)a shortage.
• B)a surplus.
• C)either a shortage or a surplus.
• D)neither a shortage nor a surplus.

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Definitions:

Modus Ponens

A form of deductive reasoning that allows one to conclude a certain proposition if a conditional statement (if-then) is true and its antecedent is true.

Modus Tollens

A form of logical argument where the denial of the consequent leads to the denial of the antecedent; typically structured as "If P, then Q. Not Q, therefore not P."

Hypothetical Syllogism

Hypothetical Syllogism is a form of logical argument comprising two conditional statements and a conclusion, based on the "if...then..." structure.

Fallacy

A mistaken belief or error in reasoning often resulting in a weak argument.