A Minimum Price Set Above the Equilibrium Price Is A

question 116

Multiple Choice

A minimum price set above the equilibrium price is a:

• A)demand price.
• B)supply price.
• C)binding price floor.
• D)binding price ceiling.

---

Definitions:

Interest Rate

The interest rate is the percentage charged on the total amount borrowed or invested, representing the cost of borrowing or the earning from an investment over a specified period.

Loan

A financial amount given as a loan, anticipated to be returned with interest.

Rate of Return

The increase or decrease in the value of an investment during a set timeframe, represented as a percent of the investment's original price.

Equivalent Value

The worth of an item, service, or amount in terms of another, often used in comparisons or exchanges.