A Price Floor That Is Set Above the Equilibrium Price

question 13

Multiple Choice

A price floor that is set above the equilibrium price

• A)causes suppliers to lower their prices.
• B)is binding.
• C)is non-binding.
• D)creates a shortage.

---

Definitions:

Social Category

A group of people who share a common characteristic or attribute but do not necessarily interact with each other.

Web Surfing

The activity of browsing through various websites on the internet without a specific purpose, often driven by curiosity or leisure.

Similar Status

A condition or situation where individuals or groups have equivalent positions, rank, or social standing within a society.

Shared Identity

A collective sense of belonging to a group, where members recognize common traits, experiences, or purposes, fostering unity and solidarity.