Whenever a Price Ceiling Is Imposed in a Market, It

question 213

Multiple Choice

Whenever a price ceiling is imposed in a market, it is true that:

• A)quantity demanded exceeds quantity supplied and a surplus results.
• B)quantity demanded exceeds quantity supplied and a shortage results.
• C)quantity supplied exceeds quantity demanded and a surplus results.
• D)quantity supplied exceeds quantity demanded and a shortage results.
• E)it is necessary to know whether the ceiling is imposed above or below the equilibrium price in order to determine whether the quantity traded will be affected.

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Definitions:

Respiratory Pump

A mechanism involving the muscles of the thorax and abdomen, which helps in moving air in and out of the lungs during breathing.

Diaphragm

a large, dome-shaped muscle located at the base of the lungs that plays a crucial role in breathing.

Venous Return

The flow of blood back to the heart through the veins, crucial for maintaining cardiovascular circulation.

Palpated

The act of examining or exploring by touch, especially used in a medical context to detect characteristics or abnormalities of an organ.