Examlex
Describe the posting process for special journals.
Inefficiently High Quality
A form of inefficiency in which sellers offer high-quality goods at a high price even though buyers would prefer a lower quality at a lower price; often the result of a price floor.
Government Imposes
Actions undertaken by a government to enforce regulations, taxes, or penalties on individuals or organizations.
Binding Price Floor
A price floor set above the equilibrium price, causing a surplus because the quantity supplied exceeds the quantity demanded.
Quota
A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time frame.
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