The Benefit of a Price Floor to ________ Is ________

question 80

Multiple Choice

The benefit of a price floor to ________ is ________.

• A) producers; the selling price of the product is above the equilibrium price
• B) producers; the floor creates excess demand
• C) consumers; the selling price of the product is below the equilibrium price
• D) consumers; the floor creates excess supply

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Definitions:

Posting

The act of recording financial transactions in the ledger of an accounting system.

Transaction

An agreement or exchange between two parties that involves the buying, selling, or trading of goods, services, or financial instruments.

Proof

in a financial context, refers to the process of verifying the accuracy and consistency of accounting records and financial statements.

Equality

In a business context, equality refers to ensuring fair treatment and opportunities for all employees, stakeholders, and customers, regardless of their background or personal characteristics.