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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A system or organization in which people or groups are ranked one above the other according to status or authority.

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