Exhibit 4-4

question 39

Multiple Choice

Exhibit 4-4
-In Exhibit 4-4, suppose a price floor is established at $20.00. What is the result?

• A)a shortage of 10 units
• B)a surplus of 10 units
• C)a shortage of 20 units
• D)a surplus of 20 units
• E)there is no change from the situation that exists at the equilibrium price

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Definitions:

Credibility

A measure of your believability based on how reliable you are and how much trust you evoke in others.

Cultural Differences

The variations in the practices, customs, and behaviors of different societies or groups of people.

Motivation

The combination of forces that drive people to satisfy their needs.

Psychographics

The study of personality, values, opinions, attitudes, interests, and lifestyles of people, used in market research.