Exhibit 4-3 -Refer to Exhibit 4-3.Which of the Following Is True

question 3

Multiple Choice

Exhibit 4-3
-Refer to Exhibit 4-3.Which of the following is true?

• A)If price P₁ is set as a price ceiling it will have an effect on the market for good X.
• B)If price P₁ is set as a price floor it will have an effect on the market for good X.
• C)Price P₁ is the equilibrium price for good X.
• D)If price P₁ is set as a price floor,then it is the highest price that can legally be charged in the market for good X.

---

Definitions:

Open Marriage

A marriage in which the partners agree that each may engage in sexual relationships with other people.

Singles World

The social scene or lifestyle of individuals who are not in a marriage or romantic relationship.

Casual Affairs

Relationships or encounters that are sexual in nature but not considered serious or committed.

Social Groups

Collections of individuals defined by shared interests or characteristics, forming a basic unit of social organization.