Multiple Choice
-Refer to the above figure. If a price floor of $3 was set
A) the quantity sold would be 80 units.
B) there would be a surplus of 40 units.
C) there would be a shortage of 40 units.
D) there would be a shortage of 20 units.
Correct Answer:

Verified
Correct Answer:
Verified
Q2: The effect of legislation establishing a minimum
Q124: Which of the following must occur as
Q174: Rent control is an example of<br>A) a
Q193: If the demand for a product remains
Q213: Suppose Brad Pitt and Angelina Jolie wear
Q229: Price floors<br>A) provide free market incentives for
Q233: Following adjustments to a new equilibrium in
Q326: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -A black market
Q385: The price rationing mechanism of a freely
Q390: Suppose the market clearing price for gasoline