If a Price Floor Is Not Binding,then

question 173

Multiple Choice

If a price floor is not binding,then

• A) the equilibrium price is above the price floor.
• B) the equilibrium price is below the price floor.
• C) it has no legal enforcement mechanism.
• D) More than one of the above is correct.

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Definitions:

Directional Selection

Outcome of natural selection in which an extreme phenotype is favored, usually in a changing environment.

Cladogram

In cladistics, a branching diagram that shows the relationship among species in regard to their shared derived characters.

Common Ancestor

An ancestral species from which two or more species evolved.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, a fundamental concept in evolutionary biology.