A Price Ceiling Is

question 63

Multiple Choice

A price ceiling is

• A)often imposed on markets in which "cutthroat competition" would prevail without a price ceiling.
• B)a legal maximum on the price at which a good can be sold.
• C)often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price ceiling.
• D)All of the above are correct.

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Definitions:

Others' Rights

The acknowledgment and respect for the rights and freedoms of other individuals, essential for maintaining ethical and harmonious interactions.

Temporal Immediacy

The degree to which future benefits or consequences are perceived as being imminent or occurring in the near term.

Social Proximity

Refers to the closeness or distance between individuals in social relationships or networks.

Ethical Intensity

The degree of importance given to an ethical issue, determined by its outcomes, probability of effect, concentration of effect, and social consensus.