A Binding Price Ceiling

question 420

Multiple Choice

A binding price ceiling
i) causes a surplus.
Ii) causes a shortage.
Iii) is set at a price above the equilibrium price.
Iv) is set at a price below the equilibrium price.

• A) ii) only
• B) iv) only
• C) i) and iii) only
• D) ii) and iv) only

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Definitions:

Knowledge Management

The creation of systems to locate, produce, capture, curate, move, and capitalize upon knowledge for organizational benefit.

Digital Archive

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The use of digital infrastructure that enables two or more groups (typically, users and providers of a service) to interact, which is the basis of the on-demand, sharing, and gig economies.