Multiple Choice
A market consequence of a price floor is that the price consumers pay with the floor when compared to the price they paid without the floor,
A) falls so that there is an excess supply
B) falls so that there is an excess demand
C) increases so that there is an excess supply
D) increases so that there is an excess demand
E) falls so that the new equilibrium price is lower than the old
Correct Answer:
Verified
Correct Answer:
Verified
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