A Price Floor Set Below the Equilibrium Price Causes a Surplus

question 267

True/False

A price floor set below the equilibrium price causes a surplus in the market.

---

Definitions:

Chemical Burn

Tissue damage caused by contact with chemicals, leading to irritation or destruction of the skin.

Acids

Chemical substances that release hydrogen ions in water and have a pH less than 7, often characterized by a sour taste and the capability to turn litmus paper red.

Avulsion

An injury in which a body structure is forcibly detached.

Profuse Bleeding

Heavy or excessive bleeding that can occur internally or externally from the body, often requiring immediate medical attention.