Scenario 6-2
Suppose demand for a product is given by the equation 
and supply for the product is given by the equation 
-Refer to Scenario 6-2. Suppose the government sets a price floor at $13 for this product. Initially, is this price floor binding? Suppose that for some reason demand were to decrease to 
Would the $13 price floor be binding after the shift in the demand curve? If so, what is the size of the resulting shortage/surplus?
Definitions:
Single Mistake
An isolated error or fault made in a process or activity, typically used to emphasize the human aspect of errors.
Interview Opportunities
The chances or occasions for formal meetings where a person is asked questions to assess their suitability for a particular role or task.
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A type of résumé that merges the chronological and functional formats to highlight both your skills and employment history.
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A brief statement or section on a resume highlighting a person's professional background and achievements.
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