-In Figure 4-5,if the Government Imposes a Price Floor of $2,the

question 52

Multiple Choice

-In Figure 4-5,if the government imposes a price floor of $2,the result will be

• A) equilibrium
• B) no different than before the minimum price is imposed
• C) a shortage
• D) that the demand curve will shift leftward
• E) a surplus

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Definitions:

Crowdsourcing

The use of collective intelligence gathered from the public for accomplishing tasks, often by the use of social media.

In-house

Pertaining to activities or operations performed within an organization rather than outsourced.

Creative Innovation

The process of introducing novel and original ideas or methods that result in significant improvements or advancements.

Knowledge Management

The systematic process of creating, sharing, using, and managing the knowledge and information of an organization.