Figure 6-7 -Refer to Figure 6-7.Suppose a Price Floor of $7 Is

question 69

Multiple Choice

Figure 6-7

-Refer to Figure 6-7.Suppose a price floor of $7 is imposed on this market.As a result,

• A) buyers' total expenditure on the good decreases by $20.
• B) the supply curve shifts to the left so as to now pass through the point (quantity = 40, price = $7).
• C) the quantity of the good demanded decreases by 20 units.
• D) the price of the good continues to serve as the rationing mechanism.

---

Definitions:

Two Dimensional

Pertaining to or occurring on a plane, involving width and height but not depth, typically used in reference to shapes, designs, or drawings.

Profile-Of-A-Line Tolerancing

A dimensional specification technique that controls the shape and size of a line feature, ensuring it stays within defined tolerance zones along its length.

Single Entity

An individual unit, object, or being considered as distinct and independent.

Profile-Of-A-Surface Tolerance

Profile-of-a-surface tolerance is a geometric dimensioning and tolerancing specification controlling the 3D shape and variation of a surface across its entire extent.