Figure 6-6 -Refer to Figure 6-6.Which of the Following Statements Is Correct

question 143

Multiple Choice

Figure 6-6
-Refer to Figure 6-6.Which of the following statements is correct?

• A)A price ceiling set at $12 would be binding,but a price ceiling set at $8 would not be binding.
• B)A price floor set at $8 would be binding,but a price ceiling set at $8 would not be binding.
• C)A price ceiling set at $9 would result in a surplus.
• D)A price floor set at $11 would result in a surplus.

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Definitions:

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