A Price Ceiling on Tickets Creates

question 25

Multiple Choice

A price ceiling on tickets creates

• A) excess demand, which creates gray and black markets.
• B) excess supply, which causes prices to fall.
• C) excess demand, which cause prices to fall.
• D) excess supply, which causes gray and black markets.

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Definitions:

Independent Functioning

The ability of an individual to perform daily activities and fulfill roles without the need for assistance from others.

Percentage

A mathematical concept that represents a number as a fraction of 100, used to describe proportions or ratios.

Elderly

Relating to older adults, typically those aged 65 and above, with specific needs, strengths, and considerations.

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