A Price Floor

question 22

Multiple Choice

A price floor

• A) changes the equilibrium price if it is imposed in black markets.
• B) changes the price and quantity if it is set below the equilibrium price.
• C) changes the price and quantity if it is set above the equilibrium price.
• D) does not create a black market if it is set above the equilibrium price.
• E) changes the price and quantity only if it equals the equilibrium price.

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Definitions:

Months

Units of time, typically lasting 28 to 31 days, used to divide a year into twelve periods in the Gregorian calendar.

Follows Objects

The ability to visually track moving items, often assessed in developmental examinations to indicate proper neurological function.

180 Degrees

A term denoting a complete opposite direction or change in opinion or position.

Months

Divisions of the year based on the Earth's orbit around the sun, typically totaling twelve in a calendar year.