When a Binding Price Ceiling Is Imposed on a Market

question 218

Multiple Choice

When a binding price ceiling is imposed on a market,

• A)​price no longer serves as a rationing device.
• B)​the quantity supplied at the price ceiling exceeds the quantity that would have been supplied without the price ceiling.
• C)​all potential buyers benefit.
• D)​All of the above are correct.

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Definitions:

State Mental Hospitals

Publicly funded institutions that provide mental health care and treatment for people with various psychiatric disorders.

Talk Therapy

A form of psychotherapy that involves discussing thoughts, feelings, and behaviors with a mental health professional to address and manage mental health issues.

Prefrontal Lobotomy

A surgical procedure used in the past to treat certain mental disorders, involving the severing of connections in the brain's prefrontal cortex, now largely discredited due to its serious side effects and ethical concerns.

Egas Moniz

A Portuguese neurologist who is credited with the development of cerebral angiography and the controversial prefrontal leucotomy, for which he was awarded the Nobel Prize in Physiology or Medicine in 1949.