A Price Floor Will Be Binding Only If It Is

question 1

Multiple Choice

A price floor will be binding only if it is set

• A)equal to the equilibrium price.
• B)above the equilibrium price.
• C)below the equilibrium price.
• D)either above or below the equilibrium price.

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Definitions:

Heterozygous

Having inherited two genes of different allelic forms for a trait.

Dominant Allele

The allele that is expressed when an individual possesses two different alleles for the same trait.

Recessive Allele

The allele that is not expressed when an individual possesses two different alleles for the same trait.

Carriers

Individuals who are heterozygous for a trait with a dominant and recessive allele and thus express only the characteristics associated with the dominant allele but may pass the recessive allele, including one for a recessive disorder, on to their offspring.