After a Price Floor of $23 Is Placed on the Market

question 75

Multiple Choice

After a price floor of $23 is placed on the market in the graph shown,the total number of units traded:

• A) falls by 20 relative to equilibrium.
• B) falls by 27 relative to equilibrium.
• C) falls by 37 relative to equilibrium.
• D) increases by 10 relative to equilibrium.

---

Definitions:

Self-Control

The ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.

Latent Learning

Learning that occurs without any obvious reinforcement of the behavior or associations that are learned until there is a reason to demonstrate it.

Tolman

An American psychologist best known for his work in cognitive behaviorism, proposing that cognitive processes such as expectations play a key role in learning.

Hat Store

A retail business specializing in the sale of headwear, offering various styles and types of hats.