A Price Floor Is Not Binding If

question 42

Multiple Choice

A price floor is not binding if

• A)the price floor is higher than the equilibrium price of the good.
• B)the quantity of the good demanded with the price floor is less than the quantity demanded of the good without the price floor.
• C)the quantity of the good supplied with the price floor is less than the quantity supplied of the good without the price floor.
• D)All of the above are correct.

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Definitions:

Global Manager

A manager who is culturally aware and informed on international affairs.

Culture Shock

The experience of disorientation and stress resulting from encountering a foreign culture or way of life drastically different from one's own.

Culturally Aware

The understanding and respect of cultural differences and the ability to act effectively and appropriately with a variety of cultural situations.

Cultural Intelligence

The ability to relate and work effectively across cultures, understanding and respecting cultural differences.