The Shortage Created by a Price Ceiling Will Likely Be

question 147

Multiple Choice

The shortage created by a price ceiling will likely be

• A) smaller if the good is a necessity.
• B) larger if the good is addictive.
• C) smaller if the good is a luxury.
• D) unaffected by the time that has elapsed since the price ceiling is implemented.
• E) None of the above answers is correct.

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Definitions:

Oxygen Tank

A storage vessel for oxygen, used in medical settings to deliver oxygen therapy to patients requiring respiratory support.

Venturi Mask

A medical device that delivers a known oxygen concentration to patients on controlled oxygen therapy.

Simple Face Mask

A basic type of facial mask used to deliver a fixed concentration of oxygen to the patient, typically featuring a lightweight design and adjustable straps.

Oxymizer

A device that increases the efficiency of oxygen delivery from a supply system to the patient, often used in chronic lung conditions.