Question

when a product, such as a new smart tv, becomes highly popular and prices rise due to high demand. finally, public goods, such as national parks, are non - rivalrous, meaning that one persons use does not diminish another persons ability to use them. however, items like clothing and cars are not public goods because they are privately owned and rivalrous. understanding these concepts helps clarify the dynamics of a market economy, from how businesses operate to how consumers influence production decisions. question 14 1 pts the u.s. government can set a price ceiling on products, which is the minimum cost of an item. true false

Explanation:

A price - ceiling is the maximum price set by the government, not the minimum. A price - floor is the minimum cost of an item.

Answer:

False