When Price Floors Are in Effect, Goods and Services

question 19

Multiple Choice

When price floors are in effect, goods and services:

• A) are still allocated efficiently.
• B) are not necessarily supplied by their lowest-cost producer.
• C) do not necessarily flow to their highest-valued use.
• D) are neither necessarily supplied by their lowest-cost producer nor do they flow to their highest-valued use.

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Definitions:

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Sleepy

A state of feeling tired or drowsy, often leading to a desire for sleep.

Reasoning Tasks

Activities designed to assess and engage logical thinking, problem-solving skills, and the application of knowledge.