Multiple Choice
Suppose a market is in equilibrium, and then a price floor is established below the equilibrium price.What will happen to the price and quantity?
A) A surplus will develop.
B) A shortage will develop.
C) The quantity sold will rise.
D) The market will remain in equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q150: Which of the following could cause a
Q151: Which statement best describes what happens when
Q152: What will be the result of a
Q153: What will occur if the price of
Q154: For a given supply curve, what will
Q156: Which event is likely to reduce the
Q157: Suppose the price of potato chips increases.Other
Q158: Which of the following would cause both
Q159: Suppose there is a shortage in the
Q160: According to the law of demand, what