Assume a Price Floor Is Imposed at the Current Equilibrium

question 14

Multiple Choice

Assume a price floor is imposed at the current equilibrium price in the market for lettuce. If the demand for lettuce then increases:

• A)​a surplus of lettuce will be created.
• B)​a shortage of lettuce will be created.
• C)​the quantity of lettuce traded remains the same.
• D)​the quantity of lettuce supplied will increase.

---

Definitions:

Survey archive

A repository or collection of survey data that is preserved for future research, reference, or analysis.

Inter University Consortium

An Inter University Consortium is a collaborative partnership between universities to pool resources, expertise, and facilities for mutual benefit.

Case studies

In-depth investigations of a single person, group, event, or community, often used for detailed examination.

Rare events

Incidences that occur infrequently within a given domain or context.