Multiple Choice
Which of the following is correct when a price floor is set above the equilibrium price?
A) quantity supplied is less than quantity demanded at the set price
B) quantity supplied is equal to quantity demanded at the set price
C) at the set price there will be a shortage
D) The market price is greater than the price floor
E) quantity supplied exceeds quantity demanded at the set price
Correct Answer:
Verified
Correct Answer:
Verified
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