Examlex
Match the given equation with one of the graphs.
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A)
B)
C)
11ecbb18_97fb_e606_8bc5_d3f20a961ea0_TB2705_11
D)
11ecbb18_9263_8e55_8bc5_01f046beb5f7_TB2705_00
Price Floor
A government-imposed minimum price charged on a product, below which that particular product cannot be supplied to the market.
Shortage
A scenario in which the market's need for a service or product surpasses its availability.
Surplus
An excess of production or supply over demand, often leading to lower prices or an inventory accumulation.
Price Ceiling
A government-imposed limit on how high a price is charged for a product, aimed at preventing prices from reaching levels deemed too high.
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