Because a Price Ceiling Causes

question 121

Multiple Choice

Because a price ceiling causes:

• A) a shortage, some form of rationing must occur.
• B) a surplus, some form of rationing must occur.
• C) a shortage, the outcome will be efficient.
• D) a surplus, the outcome will be inefficient.

Understand the role of oligopolies in shaping market behavior and structure through strategic decision-making.

Understand the defining characteristics of oligopolies and their economic implications.

Recognize the concepts of game theory and how it applies to oligopolistic competition.

Comprehend the role and effects of cartels, such as OPEC, in the global market.

---

Definitions:

Homogamy

The similarity of individuals married to each other, usually in terms of socioeconomic status, education, religion, or ethnicity.

Endogamy

The practice of marrying within a specific social group, class, or ethnic group, rejecting those from others as suitable marriage partners.

Diversity Training Programs

Educational initiatives designed to enhance awareness of diversity and foster inclusion in the workplace or other community settings.

Mandatory

Refers to something that is obligatory or required by law or rules.