If a Price Floor Is Set at $23 in the Market

question 58

Multiple Choice

If a price floor is set at $23 in the market shown in the graph:

• A) a shortage of 37 will occur.
• B) a shortage of 10 will occur.
• C) a shortage of 27 will occur.
• D) no shortage will occur.

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Definitions:

Explicit Motives

Explicit motives are conscious or verbalized goals that drive an individual's actions towards achieving specific outcomes.

Love And Belonging

A fundamental human need to form and maintain intimate relationships, feel part of a group, and be accepted by others.

Affiliation

The state or process of affiliating or being affiliated with a larger organization, group, or ideology.

Self-determination Theory

A psychological theory of motivation that emphasizes the role of autonomy, competence, and relatedness in fostering motivation and psychological growth.