Suppose That a Market Is Initially in Equilibrium

Multiple Choice

Suppose that a market is initially in equilibrium.Then the government imposes a price floor above the equilibrium price.Which of the following will occur in the absence of a black market?

A) The market will remain in equilibrium.
B) The quantity sold will drop.
C) The quantity demanded will increase.
D) The quantity supplied will decrease.
E) An excess demand will develop.