Either a Price Floor or a Price Ceiling Above the Equilibrium

question 232

True/False

Either a price floor or a price ceiling above the equilibrium price would cause a surplus.

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Definitions:

Modeling

A learning process where individuals imitate or adopt behaviors, attitudes, or skills by observing others.

Classical Conditioning

A method of learning where a response initially triggered by a second stimulus is ultimately triggered by the first stimulus alone, due to the consistent pairing of the two stimuli.

Modeling

A psychological process in which individuals learn by observing and imitating the behaviors of others.

Shaping

A process in behavioral psychology where successive approximations of a desired behavior are reinforced until the exact behavior is achieved.