Multiple Choice
The persistent unwanted surplus that results from a binding price floor causes inefficiencies that do NOT include:
A) inefficiently low quality.
B) inefficient allocation of sales among sellers.
C) wasted resources.
D) the temptation to break the law by selling below the legal price.
Correct Answer:
Verified
Correct Answer:
Verified
Q92: Rent controls set a price ceiling below
Q93: Producers may supply a good with inefficiently
Q94: When price controls take the form of
Q95: Price controls encourage black markets because:<br>A)they eliminate
Q96: Use the following to answer question: <img
Q98: A binding price floor causes:<br>A)a shortage in
Q99: A binding price ceiling is usually designed
Q100: A price ceiling on a good often
Q101: In New York City there are more
Q102: Suppose Congress imposes a price ceiling of