In Which of the Following Cases Will an Effective Price

question 49

Multiple Choice

In which of the following cases will an effective price floor lead to the largest surplus in a market?

• A)When demand is elastic and supply is inelastic
• B)When demand is inelastic and supply is elastic
• C)When both demand and supply are elastic
• D)When both demand and supply are inelastic
• E)When demand is inelastic and supply is perfectly inelastic

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