Use the Following Figure to Answer the Question

question 244

Multiple Choice

Use the following figure to answer the question :
-If the government set a price floor at $18

• A)there would be a temporary surplus, then prices would fall to equilibrium.
• B)the price floor would not have any effect on this market.
• C)then quantity demanded would be greater than quantity supplied.
• D)there would be a permanent surplus, at least until the price floor was lifted.

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Definitions:

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The practice of maintaining an appropriate and neat appearance, often referred to in a professional work context.

Nose Rings

Jewelry pieces that are worn through piercings in the nose, often for fashion or cultural reasons.

Policies

Established guidelines, rules, or procedures designed to influence or determine decisions and actions within an organization.

Prohibit

To formally forbid something by law, rule, or other authority.