A Price Ceiling Below the Equilibrium Price Is Likely to Result

question 142

Multiple Choice

A price ceiling below the equilibrium price is likely to result in a persistent _____,a transfer of surplus from _____,and _____ deadweight loss.

• A)surplus;producers to some consumers;some
• B)shortage;producers to some consumers;some
• C)shortage;some consumers to producers;no
• D)surplus;some consumers to producers;some

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Definitions:

Plato

An ancient Greek philosopher who was a student of Socrates and teacher of Aristotle, known for his contributions to the foundation of Western philosophy.

Contemporary Virtue Theory

A modern philosophical movement that emphasizes virtues or moral character in determining ethical behavior.

Aristotle

A key figure in ancient philosophy, Aristotle's work covers various subjects including physics, metaphysics, poetry, theater, music, logic, rhetoric, politics, ethics, biology, and zoology.

Conducting Lives

Refers to the manner in which individuals lead their daily existence, including their choices, actions, and priorities.