Assume There Is a Price Floor Imposed on a Good

question 228

Multiple Choice

Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus?

• A)​An increase in demand.
• B)​A decrease in demand.
• C)​An increase in supply.
• D)​Any of the above.

---

Definitions:

Legal Standpoint

A perspective or position based on laws and legal principles.

Diversity Training

Educational programs aimed at enhancing participants' cultural awareness, knowledge, and skills in promoting diversity and inclusion in the workplace.

Affirmative Action Programs

Policies or practices that aim to increase opportunities for minorities and women in employment and education by considering those attributes in selection processes.

Discriminatory Practices

Unfair treatment of individuals or groups based on characteristics such as race, gender, age, or sexual orientation.