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

question 28

Multiple Choice

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

• A)some surplus will be transferred from consumers to producers.
• B)some surplus will be transferred from producers to consumers.
• C)all producers will be better off.
• D)all consumers will be better off.

---

Definitions:

Folds

Structures formed by the bending and warping of rocks under pressure during geological processes, often seen in mountain ranges.

Joints

Natural fractures or separations in rocks without displacement, often formed by stresses such as contraction, expansion, or tectonic activities.

Faults

Fractures in the Earth's crust along which there has been significant displacement as a result of rock-mass movement.

Beds

Horizontal layers of sedimentary rock that display a planar or nearly planar bedding surface, indicating periods of deposition over time.