Whenever a Price Floor Is Imposed Above Equilibrium Price, It

question 89

Multiple Choice

Whenever a price floor is imposed above equilibrium price, it is true that:

• A)supply will increase due to a higher price and a surplus will result.
• B)supply will increase due to a higher price until it just equals the quantity demanded.
• C)demand will increase due to a higher price and a shortage will result.
• D)demand will increase due to a higher price until it just equals the quantity supplied.
• E)quantity supplied will exceed the quantity demanded.

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