Which of the Following Statements Is False

question 24

Multiple Choice

Which of the following statements is false?

• A)With a price floor, the market will not clear.
• B)With a price floor, consumers will buy less of the good than they would in a free market.
• C)With a price floor, producer surplus will always increase.
• D)With a price floor there will be excess supply.

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Definitions:

Transaction Cost

Expenses incurred during the process of buying or selling goods and services, beyond the price of the products.

Design Collaboration

The process where multiple stakeholders (e.g., engineers, designers, and clients) work together in the planning and design phase of a project to ensure optimal outcomes.

Manufacturability

The ease with which products can be manufactured, influenced by design, material selection, process complexity, and cost implications.

Sourcing Planning

The process of strategically planning and managing the procurement of goods and services from suppliers to meet business requirements.