A price ceiling refers to ________
A) the lowest price that a producer is willing to accept for a good
B) the highest price that a consumer is willing to pay for a good
C) the lower limit on the price of a good
D) the upper limit on the price of a good
D
Economics
You might also like to view...
Refer to Figure 22-3. Which of the following would cause an economy to move from a point like A in the figure above to a point like B?
A) an increase in capital per hour worked B) a decrease in capital per hour worked C) an improvement in technology D) a technological regression
Economics
Inventory is the
a. net change in inventories of final goods awaiting sale. b. net change in inventories of materials used in the production process. c. included in investment when calculating GDP. d. Both a and b. e. All of the above.
Economics