Which of the Following Is Not Likely to Result from a Price

question 46

Multiple Choice

Which of the following is not likely to result from a price ceiling that is below the equilibrium price?

• A)Some form of non-price rationing
• B)A shortage that market forces cannot be expected to eliminate
• C)Improvements in product quality
• D)Waiting in lines to obtain some of the good

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Definitions:

Upward

In a direction towards a higher position or level.

Downward

A direction toward a lower position or point.

Transformations

Operations that change the position, shape, or size of geometric figures.

Graph

A visual representation of data or mathematical functions, usually drawn with an x and y-axis, to illustrate relationships between variables.