Suppose a Market Is in Equilibrium and Then a Price

question 123

Multiple Choice

Suppose a market is in equilibrium and then a price floor is established below the equilibrium price.Which of the following will happen?

• A)quantity demanded will increase
• B)a surplus will develop
• C)a shortage will develop
• D)the quantity sold will rise
• E)the market will remain in equilibrium

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Definitions:

Dominant Allele

An allele that expresses its phenotype even in the presence of a different (recessive) allele at the same genetic locus in a heterozygote.

Aniridia

A congenital condition characterized by the complete or partial absence of the iris, affecting the individual's vision.

Genotype AAbbCc

The genetic makeup of an organism consisting of two alleles for one trait, with one being dominant A, aa indicating recessive, and Bb Cc being heterozygous.

Color Scale

A range or sequence of colors used to represent quantitative values or to show a gradual transformation.