A Price Floor Set Above the Equilibrium Price Will

question 1

Multiple Choice

A price floor set above the equilibrium price will

• A) clear the market for the good.
• B) result in a shortage of the good.
• C) result in a surplus of the good.
• D) force some firms in this industry to go out of business.

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Definitions:

Rh Factor

A type of protein on the surface of red blood cells that indicates the presence (+) or absence (-) of the Rh antigen, important in determining blood compatibility.

AB Positive

A blood type characterized by the presence of both A and B antigens on the surface of red cells and no antibodies in the plasma, making it the universal recipient type.

Antibodies

Proteins produced by the immune system in response to foreign substances, which they help to neutralize or destroy.

White Blood Cells

Cells in the blood that are part of the immune system, responsible for fighting infections and foreign substances.