If a Price Floor Is Above the Equilibrium Price It

question 113

True/False

If a price floor is above the equilibrium price it will have no effect in the market.

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Definitions:

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Feedback

Information provided as a response to an action or behavior, intended to guide future actions.

Tensions

The state of being stretched tight, often referring to mental or emotional strain resulting from challenging situations.

Obliging

Willingness to do a service or kindness; readily performing favors or good deeds.