If the Equilibrium Price of an Airline Ticket Is $400

question 256

True/False

If the equilibrium price of an airline ticket is $400 and the government imposes a price floor of $500 on airline tickets, then fewer airline tickets will be sold than at the market equilibrium.

---

Definitions:

Aqueous Acid

An acid solution in which water is the solvent, often used in chemical reactions that require a proton source.

Stereochemical

Pertaining to the spatial arrangement of atoms in a molecule and the impact of this arrangement on its chemical behavior.

Regio-

A prefix in chemistry indicating the region or specific location in a molecule where a reaction takes place or a particular group is located.

Carbocation Rearrangement

A process in which a carbocation intermediate undergoes structural reorganization to form a more stable ion during a chemical reaction.