Which of the Following Statements Is NOT True About the Rationing

question 263

Multiple Choice

Which of the following statements is NOT true about the rationing of goods?

• A) Goods can only be rationed by price.
• B) Goods can be rationed on a first come first serve basis.
• C) Goods can be rationed by random.
• D) Goods can be rationed by the use of coupons.

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Definitions:

Short-Run Profits

Earnings that a company makes over a short period of time, not taking into consideration the full costs of production in the long term.

Profit-Maximizing

A strategy or process by which a business aims to achieve the highest possible profits from its operations.

Market Price

The contemporary pricing at which a commodity or service is offered for exchange in the open market.

Economic Profits

The surplus remaining after deducting both explicit and implicit costs from total revenues, often indicating the profitability beyond normal returns.