A Price Floor Is

question 57

Multiple Choice

A price floor is

• A)a minimum allowable price set by government, and it causes a surplus if effective.
• B)the equilibrium price.
• C)a minimum allowable price set by government, and it causes a shortage if effective.
• D)a maximum allowable price set by government, and it causes a shortage if effective.
• E)a maximum allowable price set by government, and it causes a surplus if effective.

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