Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result. Price floors prevent a price from falling below a certain level.
Answer: B. an output of the product that is less than the amount consistent with ideal economic efficiency
Explanation: Economic efficiency is the state in which all available resources are optimally allocated to serve each individual or entity in the best way while reducing to the minimum, waste and inefficiency. In reality, economic efficiency has shown that nothing can be improved without something else being hurt.
When competitive forces are weak, it leads to decrease in output as economic efficiency is only maximized when price is equal to marginal revenue because at this point both profit and efficiency are maximized.
Answer: Prison Litigation Reform Act
Explanation: this act was made because politicians thought that the lawsuits were inundating the federal court system.
Answer:
The third option: "A college student... in which he feels the national government needs improvement."
Explanation:
All of the other options break the law according to the freedom of speech. People are allowed the freedom of speech, but of course we can't say whatever we want. The rest of them are illegal, while the third is just an opinion, which are protected under the freedom of speech.
Franz San Galli was born: 1824 in Kamien Pomorski, Poland. He died in: 1908.
Hope I helped!
- Amber
