When a Binding Price Ceiling Is Imposed on a Market

question 105

Multiple Choice

When a binding price ceiling is imposed on a market to benefit buyers,

• A)every buyer in the market benefits.
• B)every buyer and seller in the market benefits.
• C)every buyer who wants to buy the good will be able to do so,but only if he waits in long lines.
• D)some buyers will not be able to buy any amount of the good.

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Definitions:

Homogeneous Catalyst

A catalyst that exists in the same phase (solid, liquid, or gas) as the reactants, facilitating the reaction uniformly throughout the mixture.

Heterogeneous Catalyst

A catalyst that exists in a different phase (solid, liquid, or gas) than the reactants in a chemical reaction, facilitating the reaction without undergoing permanent change.

Heterogeneous Catalysts

Catalysts that exist in a different phase than the reactants in a chemical reaction, facilitating the reaction without being consumed.

Chromatographically

Pertaining to chromatography, a method for separating components of a mixture based on differences in their movement through a stationary medium.