Figure 6-9 -Refer to Figure 6-9.At Which Price Would a Price Ceiling

question 175

Multiple Choice

Figure 6-9
-Refer to Figure 6-9.At which price would a price ceiling be binding?

• A)$8
• B)$5
• C)$6
• D)$7

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Definitions:

Bushels

A unit of volume that is used in the United States for measuring agricultural commodities like grains and fruits.

Corn

Refers to a cereal plant that yields large kernels on a cob, also a staple food in various regions.

Troy Oz

A unit of measure for precious metals, equivalent to approximately 31.1035 grams, used in the commodities market.