Price Controls

question 7

Multiple Choice

Price controls

• A)are always popular with consumers because they lower prices.
• B)create shortages.
• C)increase producer surplus because firms can now sell a greater quantity of a good at a lower price.
• D)are necessary to preserve equity.

---

Definitions:

Ten-inch Pizzas

A size specification for pizzas, indicating that the diameter of the pizza measures ten inches.

Number Expression

A mathematical statement used to represent a quantity or to carry out a calculation.

Alma Mater

A school, college, or university from which one has graduated or attended.

Number Rules

Guidelines or principles related to the use, manipulation, and understanding of numbers in various contexts.