Which of the Following Is True Regarding a Price Support

question 136

Multiple Choice

Which of the following is true regarding a price support set above the equilibrium price?
i.The price support increases the price consumers pay.
ii.The price support creates a deadweight loss.
iii.The price support decreases output.

• A) i and ii
• B) i and iii
• C) iii only
• D) i, ii, and iii
• E) i only

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Definitions:

Building Blocks

Fundamental components or elements from which something larger is constructed, such as amino acids are for proteins.

Proteins

Large biomolecules or macromolecules consisting of one or more long chains of amino acid residues, crucial for biological processes.

Nucleotide

The basic structural unit of nucleic acids such as DNA and RNA, composed of a sugar, a phosphate group, and a nitrogenous base.

ATP

A molecule known as adenosine triphosphate, which serves as a carrier of energy inside cells for metabolic processes.