Which of the Following Is an Example of a Price

question 52

Multiple Choice

Which of the following is an example of a price floor?

• A) a law passed in a city to lower apartment rents by setting the maximum price that can be charged for rent
• B) an equilibrium price
• C) a minimum wage law
• D) a law setting the highest price that can legally be charged for a gallon of gasoline.
• E) None of the above answers give examples of a price floor.

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Definitions:

Ownership Interests

The rights and claims a person or entity has over an asset or property, usually manifested in equity or ownership percentage.

Marketable Title

A property title free from significant encumbrances or disputes, making it attractive for sale or transfer.

Ownership Interest

A legal or equitable claim in property, providing the holder with certain rights, such as use, enjoyment, and control.

Adverse Possession

Adverse possession is a legal principle under which a person who occupies someone else's land for an extended period, meeting certain requirements, may acquire legal ownership of that land without compensation.