Suppose the Government Has Imposed a Price Ceiling on Laptop

question 212

Multiple Choice

Suppose the government has imposed a price ceiling on laptop computers.Which of the following events could transform the price ceiling from one that is not binding into one that is binding?

• A)Improvements in production technology reduce the costs of producing laptop computers.
• B)The number of firms selling laptop computers decreases.
• C)Consumers' income decreases,and laptop computers are a normal good.
• D)The number of consumers buying laptop computers decreases.

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Definitions:

Ampule

A small glass container that can be sealed and its contents sterilized.

Small Glass Container

A compact vessel made of glass, typically used for storing medicines, samples, or chemicals in various settings.

Contents Sterilized

Process in which all forms of life, including microorganisms, are destroyed or removed from objects or materials.

Varicella

Also known as chickenpox is a highly contagious disease caused by the varicella-zoster virus.