If, Under Price Control, Quantity Supplied Equals 50 Units and Quantity

question 267

Multiple Choice

If, under price control, quantity supplied equals 50 units and quantity demanded equals 40 units, then the price control is a __________.

• A) binding price ceiling
• B) binding price floor
• C) nonbinding price ceiling
• D) nonbinding price floor

---

Definitions:

Ethnocentrism

The tendency to consider one’s culture superior to others.

Workplace Distractions

Factors or activities that divert an individual’s attention away from their work-related tasks.

Multi-task

The ability to handle more than one task simultaneously.

Written Communications

The exchange of messages or information in written form, utilizing various mediums such as letters, email, or reports.