If the Price Floor Is Set Above the Equilibrium Price

question 75

Multiple Choice

If the price floor is set above the equilibrium price,

• A) quantity demanded will equal quantity supplied.
• B) there will be a surplus.
• C) there will be a shortage.
• D) the floor will be ineffective.

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Definitions:

Minimum Duration

The shortest possible time in which a project or task can be completed, taking all constraints into account.

Immediate Predecessors

Activities or tasks that must be completed directly before a subsequent activity or task can begin, in a project or process sequence.

Critical Path

The longest sequence of tasks in a project, which determines the shortest possible duration to complete the project.

Slack

The amount of time a task in a project can be delayed without causing a delay to subsequent tasks or the project finish date.