A Price Floor

question 186

Multiple Choice

A price floor

• A)is a legal minimum on the price at which a good can be sold.
• B)can result when sellers of a good are successful in their attempts to convince the government that the market outcome without a price floor is unfair to them.
• C)can create inequities in a market.
• D)All of the above are correct.

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Definitions:

Intermediate

A term used to describe entities or phenomena that fall in the middle of a specified range or scale, often used in geological contexts to describe rocks or volcanic activities with properties between felsic and mafic.

Main Batholith

A large body of igneous rock formed beneath the Earth's surface by the intrusion and solidification of magma.

Partial Melting

The process where only a portion of a solid mixture melts, resulting in the formation of magma with different composition from the original material.

Subduction

The process by which one tectonic plate moves under another plate and into the mantle, causing volcanic and seismic activity.