A Price Floor for Milk Results in a

question 93

Multiple Choice

A price floor for milk results in a

• A)gain in consumer surplus.
• B)decrease in producer surplus.
• C)deadweight loss.
• D)decrease in deadweight loss.
• E)shortage.

---

Definitions:

Anticompetitive Mergers

Mergers between companies that significantly reduce competition in a market, potentially leading to higher prices, lower quality, or less innovation.

Tax-Freedom Day

represents the hypothetical day of the year when a nation’s population has collectively earned enough income to pay its total tax bill for the year.

Tax Bills

Tax bills are statements of the amount of taxes due from individuals or organizations to the government, reflecting obligations based on earnings, property values, or transactions.

Proprietary Income

refers to income or profit earned by business owners from their ownership stakes, distinct from wages earned through employment.