Which of the Following Is an Example of a Price

question 16

Multiple Choice

Which of the following is an example of a price floor?

• A) The minimum wage.
• B) Rent controls.
• C) Restricting petrol prices to R10.00 per litre when the equilibrium price is R15.00 per litre.
• D) All of these answers are price floors.

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Definitions:

Double-precision

A format for representing floating-point numbers that uses double the amount of storage compared to single-precision, allowing for increased precision.

Single-precision

Refers to a floating-point number format that uses 32 bits, offering a compromise between range and precision.

Remainder Operator

The remainder operator, often % in many programming languages, calculates the remainder of the division between two numbers.

Integer Number

A whole number that can be either positive, negative, or zero, but without any fractional or decimal component.