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:

Diversity

Represents the range of differences among people, including but not limited to culture, race, gender, age, and beliefs.

Creative Leadership

Leadership that encourages innovation and novel thinking among team members, often by establishing an environment that fosters creativity and risk-taking.

Influential Mentors

Experienced and respected individuals who provide guidance, wisdom, and support, positively impacting another's personal or professional growth.

Integrative

Pertaining to an approach to leadership that brings different people together and develops a whole that is greater than the sum of its parts; a building-up versus a melting-down process that preserves the identity of the individual while this identity is simultaneously transcended and made greater.