To Say That a Price Ceiling Is Binding Is to Say

question 88

Multiple Choice

To say that a price ceiling is binding is to say that the price ceiling

• A)results in a surplus.
• B)is set above the equilibrium price.
• C)causes quantity demanded to exceed quantity supplied.
• D)All of the above are correct.

---

Definitions:

Intervening Events

Events that occur between the initial act and the final outcome that may affect the outcome or legal responsibilities.

Defendant's Negligent

Refers to a situation where a defendant in a legal case failed to exercise a reasonable standard of care, leading to harm or damage.

Reasonable Blind Person

A hypothetical standard used in legal contexts to assess accessibility or accommodations required for blind individuals to ensure equal opportunities.

Standard of Care

The level of competence, diligence, and prudence that a reasonable person would exercise in similar circumstances, often used in legal and medical contexts.