Multiple Choice
Suppose a market is in equilibrium.If a price floor is set in this market below the equilibrium price it is likely that:
A) quantity demanded will increase.
B) a surplus will arise.
C) a shortage will arise.
D) the quantity sold will rise.
E) the market will remain in equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
Q26: Which of the following is the best
Q27: Over the last few years,demand for DVDs
Q28: As shown in the figure given below,when
Q30: Figure 4.2 shows the demand curves for
Q31: The income effect of an increase in
Q32: The income effect refers to the impact
Q33: Suppose current equilibrium price of pizza is
Q34: The most important characteristic of the equilibrium
Q221: Recently it has been discovered that lobsters
Q243: A price floor set below the equilibrium