Consequences Of Price Ceilings #9 9 Consumer Surplus (CS) After Pc E Producer Surplus (PS) After Pc CS = A+ B PS = C+d+e Social Surplus = CS + PS = A+b+c+d+e Before P Ceiling
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Consequencescon•se•quence (kon′si kwens′, -kwəns),USA pronunciation n.
- the effect, result, or outcome of something occurring earlier: The accident was the consequence of reckless driving.
- an act or instance of following something as an effect, result, or outcome.
- the conclusion reached by a line of reasoning;
- importance or significance: a matter of no consequence.
- importance in rank or position;
distinction: a man of great consequence in art.
- in consequence, consequently;
as a result;
hence: He withdrew from the world, and in consequence was forgotten.
- in consequence of, as a result of;
on account of: A trial was held in consequence of the investigation.
Ofof1 (uv, ov; unstressed əv or, esp. before consonants, ə),USA pronunciation prep.
- (used to indicate distance or direction from, separation, deprivation, etc.): within a mile of the church; south of Omaha; to be robbed of one's money.
- (used to indicate derivation, origin, or source): a man of good family; the plays of Shakespeare; a piece of cake.
- (used to indicate cause, motive, occasion, or reason): to die of hunger.
- (used to indicate material, component parts, substance, or contents): a dress of silk; a book of poems; a package of cheese.
- (used to indicate apposition or identity): Is that idiot of a salesman calling again?
- (used to indicate specific identity or a particular item within a category): the city of Chicago; thoughts of love.
- (used to indicate possession, connection, or association): the king of France; the property of the church.
- (used to indicate inclusion in a number, class, or whole): one of us.
- (used to indicate the objective relation, the object of the action noted by the preceding noun or the application of a verb or adjective): the ringing of bells; He writes her of home; I'm tired of working.
- (used to indicate reference or respect): There is talk of peace.
- (used to indicate qualities or attributes): an ambassador of remarkable tact.
- (used to indicate a specified time): They arrived of an evening.
- [Chiefly Northern U.S.]before the hour of;
until: twenty minutes of five.
- on the part of: It was very mean of you to laugh at me.
- in respect to: fleet of foot.
- set aside for or devoted to: a minute of prayer.
- [Archaic.]by: consumed of worms.
Priceprice (prīs),USA pronunciation n., v., priced, pric•ing.
- the sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale.
- a sum offered for the capture of a person alive or dead: The authorities put a price on his head.
- the sum of money, or other consideration, for which a person's support, consent, etc., may be obtained, esp. in cases involving sacrifice of integrity: They claimed that every politician has a price.
- that which must be given, done, or undergone in order to obtain a thing: He gained the victory, but at a heavy price.
- odds (def. 2).
- [Archaic.]value or worth.
- [Archaic.]great value or worth (usually prec. by of ).
- at any price, at any cost, no matter how great: Their orders were to capture the town at any price.
- beyond or without price, of incalculable value;
priceless: The crown jewels are beyond price.
- to fix the price of.
- to ask or determine the price of: We spent the day pricing furniture at various stores.
Ceilingsceil•ing (sē′ling),USA pronunciation n.
- the overhead interior surface of a room.
- the top limit imposed by law on the amount of money that can be charged or spent or the quantity of goods that can be produced or sold.
- the maximum altitude from which the earth can be seen on a particular day, usually equal to the distance between the earth and the base of the lowest cloud bank.
- Also called absolute ceiling. the maximum altitude at which a particular aircraft can operate under specified conditions.
- the height above ground level of the lowest layer of clouds that cover more than half of the sky.
- a lining applied for structural reasons to a framework, esp. in the interior surfaces of a ship or boat.
- Also called ceil′ing piece′. [Theat.]the ceiling or top of an interior set, made of cloth, a flat, or two or more flats hinged together.
- the act or work of a person who makes or finishes a ceiling.
- vaulting, as in a medieval church.
- hit the ceiling, [Informal.]to become enraged: When he saw the amount of the bill, he hit the ceiling.
Consumercon•sum•er (kən so̅o̅′mər),USA pronunciation n.
- a person or thing that consumes.
- [Econ.]a person or organization that uses a commodity or service.
- an organism, usually an animal, that feeds on plants or other animals.