-Refer to Exhibit 4-3

question 120

Multiple Choice

-Refer to Exhibit 4-3.If price P₃ is a price ceiling,then

• A) the price ceiling does not have an effect on the market for good X.
• B) the price at which exchange takes place is P₃.
• C) the price at which exchange takes place is P₂.
• D) there is a shortage in the market for good X.
• E) both a and c

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Definitions:

Ionic Compound

Ions combined through the strength of electrostatic attractions to form a chemical compound, in a process called ionic bonding.

Sodium

A soft, silvery-white, highly reactive metal and an essential element in animal nutrition, symbolized as Na.

Nitrogen

A colorless, odorless, tasteless gas that constitutes about 78% of the Earth's atmosphere; it is a critical element in the makeup of amino acids, proteins, and nucleic acids.

Ionic Compound

A substance made up of positively and negatively charged ions that are combined in a ratio to neutralize the charges.