The Table Given Below Reports the Quantity Demanded and Supplied

question 15

Multiple Choice

The table given below reports the quantity demanded and supplied of a commodity at different prices in a market. Table 3.5
Refer to Table 3.5.If government imposes a price ceiling of $4:

• A)the price ceiling will not have an effect.
• B)the price will fall to $1 because producers will be forced to incur losses.
• C)demand will increase.
• D)a surplus will result equal to 20 units.
• E)a shortage will result equal to 20 units.

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Definitions:

Federal Communications Commission (FCC)

A government agency responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable in the U.S.

Wireless Frequencies

Electromagnetic wave frequencies utilized for communication purposes without requiring a physical connection, such as in cell phones and Wi-Fi.

Telecommunications Act

A comprehensive law enacted in 1996 to regulate the broadcasting and telecommunications industry.

Media Ownership

The ownership or control of media outlets, such as television stations, radio stations, newspapers, and websites, by companies or individuals.