Multiple Choice
Which of the following is not a likely result of a price floor?
A) Excess supply of a good
B) A persistent shortage
C) A market price higher than equilibrium
D) The quantity supplied exceeds the quantity demanded.
E) Resources are diverted away from other activities to deal with the extra output.
Correct Answer:
Verified
Correct Answer:
Verified
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Q57: A price floor is<br>A)a minimum allowable price
Q58: Suppose the price of a good rises
Q59: Does a price floor result in a
Q60: Exhibit 4-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 4-2
Q61: All of the following are forms or