A Price Ceiling Set Above the Equilibrium Price Will Cause

question 230

Multiple Choice

A price ceiling set above the equilibrium price will cause which of the following?

• A) an increase in supply
• B) a surplus
• C) a shortage
• D) no effect on either the price or quantity

---

Definitions:

Mass Customization

Mass Customization is a business strategy that combines the efficiency of mass production with the personalization of custom-made products, catering to individual customer preferences at scale.

Economic Downturns

Periods of poor economic performance characterized by a decline in GDP, which can lead to increased unemployment and lower spending.

Employee Loyalty

The dedication of employees to their company, often reflected in their willingness to remain with the company for a long time.

Vacancy Model

A technique or model for predicting the number of job vacancies within an organization over a future period, aiding in workforce planning efforts.