-Refer to the Graph Above to Answer This Question

question 6

Multiple Choice

-Refer to the graph above to answer this question.Suppose that the government imposes a price ceiling of $80 and subsequently demand decreases by 100.What would be the result?

• A)Price would fall to $60.
• B)There would be a surplus of 100 units.
• C)There would be a shortage of 100 units.
• D)There would be neither a surplus nor a shortage.
• E)250 units would be sold.

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Definitions:

Maslow's Need Hierarchy

A psychological theory proposed by Abraham Maslow that categorizes human needs into a five-tier model, in ascending order from basic to more complex needs.

Productivity

The measure of efficiency of a person, machine, system, etc., in converting inputs into useful outputs.

Non-profit Organization

is an entity that operates for a collective, public, or social benefit, rather than to generate profit for owners or shareholders.

Progression Principle

A concept in fitness and training that advocates for the gradual increase of the intensity, duration, and frequency of exercise for improved results.