A Price Floor

question 20

Multiple Choice

A price floor

• A) always results in a surplus.
• B) always results in a shortage.
• C) results in a surplus if the floor price is higher than the equilibrium price.
• D) results in a shortage if the floor price is higher than the equilibrium price.

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Definitions:

1s And 0s

The binary numeral system, which uses only two symbols, typically "1" (representing true or on) and "0" (representing false or off), fundamental to digital computing.

Multibit Interfaces

Interfaces designed to handle multiple bits of data simultaneously, used in various digital communication and processing systems.

BCD Input

Binary Coded Decimal input, a form of data representation where each decimal digit is encoded into a sequence of four binary digits.

Outputs

The final results produced by a system, device, or program, often as a response to inputs.