A Binding Price Ceiling

question 117

Multiple Choice

A binding price ceiling:

• A) will cause quantity supplied to exceed quantity demanded.
• B) will increase total well-being.
• C) will set a legal minimum price in a market.
• D) will cause quantity demanded to exceed quantity supplied.

---

Definitions:

Productivity Factors

Refer to the various elements that can influence the efficiency and output of production in an economy, including technology, labor skills, capital goods, and innovation.

Specialized Skill

A high level of proficiency in a specific type of work or activity, which typically requires significant training and experience to develop.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, or other non-job-related factors.

Similar Productivity Characteristics

Refers to entities or products that share common features in terms of efficiency, output, or performance.