If a Price Ceiling of $8 Were Placed in the Market

question 118

Multiple Choice

If a price ceiling of $8 were placed in the market in the graph shown:

• A) an excess supply of 7 would occur.
• B) an excess supply of 15 would occur.
• C) an excess supply of 23 would occur.
• D) None of these is true.

---

Definitions:

Three-Dimensional

Pertaining to having or appearing to have length, breadth, and depth, often used to describe objects or concepts that have a tangible or realistic quality.

Idea Box

A tool or system used to collect suggestions and ideas from employees or members of an organization for improvement or innovation.

Enlisting Troublemakers

A strategy of engaging individuals who may initially resist change or challenge norms, utilizing their perspectives or energy positively within organizational contexts.

Postponing Action

Delaying or deferring an activity or decision to a later time.