If a Price Floor Is a Binding Constraint on a Market,then

question 44

Multiple Choice

If a price floor is a binding constraint on a market,then

• A)the equilibrium price must be above the price floor.
• B)the quantity demanded must exceed the quantity supplied.
• C)sellers cannot sell all they want to sell at the price floor.
• D)buyers cannot buy all they want to buy at the price floor.

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Definitions:

Implicit Propositions

Statements or propositions that are not directly expressed but can be inferred from what is explicitly stated.

Syllogistic Steps

The individual stages of reasoning in a syllogism, including the establishment of premises and the deduction of a conclusion.

Virtuous

Exhibiting moral excellence or righteousness.

Society

A structured community of individuals linked by cultural, economic, political, or social relationships.