If a Price Floor Is a Binding Constraint on a Market,then

question 44

Multiple Choice

If a price floor is a binding constraint on a market,then

• A)the equilibrium price must be above the price floor.
• B)the quantity demanded must exceed the quantity supplied.
• C)sellers cannot sell all they want to sell at the price floor.
• D)buyers cannot buy all they want to buy at the price floor.

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Definitions:

Wittig Reaction

A chemical reaction used to convert aldehydes or ketones into alkenes through the use of a phosphonium ylide.

3-Ethylpent-2-Ene

An organic compound with the formula \(C_7H_{14}\), characterized by an ethyl group and an alkene with a double bond in the 2-position on a pentane backbone.

Schiff Base

Chemical compounds that typically form by the condensation reaction between an amine and an aldehyde or ketone, characterized by a carbon-nitrogen double bond.

Imine

A chemical compound characterized by a nitrogen atom double-bonded to a carbon atom, which is also bonded to a hydrogen atom and a side chain.