Figure 4-15 in Figure 4-15, Suppose a Price Floor Is Established at Is

question 200

Multiple Choice

Figure 4-15
In Figure 4-15, suppose a price floor is established at $20.00. What is the result?

• A) a shortage of 10 units
• B) a surplus of 10 units
• C) a shortage of 20 units
• D) a surplus of 20 units
• E) there is no change from the situation that exists at the equilibrium price

---

Definitions:

Communication Media

Various mediums and channels used for transmitting information between individuals or groups, including digital, print, and interpersonal platforms.

Pharmaceutical Companies

Firms engaged in the research, development, production, and marketing of drugs and medications.

Traditional Media

Media channels that predate the internet, including broadcast television, radio, newspapers, and magazines, used for mass marketing and information dissemination.

Encoding Symbols

Involves the conversion of information or ideas into symbols or codes, such as language or gestures, for communication purposes.