Suppose a Market Is in Equilibrium

question 140

Multiple Choice

Suppose a market is in equilibrium. If a price floor is set in this market below the equilibrium price, it is likely that _____

• A) quantity demanded will increase.
• B) a surplus will arise.
• C) a shortage will arise.
• D) quantity sold will rise.
• E) the market will remain in equilibrium.

---

Definitions:

Affiliations

Connections or associations with a group, organization, or individual based on shared interests or goals.

Car Colour

The hue or shades applied to the exterior of vehicles, often affecting their aesthetic appeal and sometimes insurance ratings or resale value.

Accident Likelihood

The probability or chance of an accident occurring in a given situation or environment.

Association

In statistics, it refers to a relationship or linkage between two or more variables whereby they tend to vary together in a predictable manner.