Which of the following statements is true about price ceilings?

A) Price ceilings cause goods to be rationed.
B) Price ceilings cause goods to be rationed by some other means than legally determined market prices.
C) Ration coupons are the only way to ration goods when price ceilings are in place.
D) All of the other statements are correct.

Price Ceilings

Government-imposed limits on the maximum prices that can be charged for certain goods and services, intended to protect consumers.

Ration Coupons

Certificates or vouchers that allow the holder to purchase a certain amount of scarce goods, often used during shortages to ensure fair distribution.

Legally Determined Market Prices

Prices set by law or regulation rather than by market forces of supply and demand.