A Price Ceiling Usually Results in a Surplus and a Misallocation

question 320

True/False

A price ceiling usually results in a surplus and a misallocation of resources.

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Definitions:

Hominin Species

Members of the taxonomic group that includes modern humans and all their ancestors, recognized by bipedalism and larger brain sizes relative to body.

Upright Vertebral Column

A characteristic feature of vertebrates including humans, enabling an upright posture and supporting the body's weight.

Bigger Brain

Generally refers to an increase in the size of the brain, which is often associated with the development of higher cognitive functions and intelligence in various species.

Australopithecus

A genus of hominins that lived in Africa between about 4 to 2 million years ago, known for walking upright and having both ape-like and human-like characteristics.