Use the following to answer questions:
Figure: Costs of Price Ceilings 
-(Figure: Costs of Price Ceilings) Refer to the figure. What is the dollar amount of the value of wasted time if a price ceiling of $4 is implemented?
Definitions:
Improved Quality
The enhancement or upgrading of a product’s, service’s, or process’s features, performance, or reliability to meet or exceed customer expectations.
Worker Morale
The overall outlook, attitude, satisfaction, and confidence that employees feel towards their work and workplace.
Quality Circle
A volunteer group composed of workers who meet together to discuss workplace improvement and problem-solving strategies.
Internal Customers
Employees or departments within an organization who depend on the support or services provided by other parts of the company to fulfill their job duties.
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