If a Price Floor Is a Binding Constraint on a Market,then

question 44

Multiple Choice

If a price floor is a binding constraint on a market,then

• A)the equilibrium price must be above the price floor.
• B)the quantity demanded must exceed the quantity supplied.
• C)sellers cannot sell all they want to sell at the price floor.
• D)buyers cannot buy all they want to buy at the price floor.

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Definitions:

Society

A structured community of individuals linked by cultural, economic, political, or social relationships.

Sails

Large pieces of fabric attached to the mast of a boat or ship, designed to catch the wind and propel the vessel forward.

Passengers

Individuals who are transported in a vehicle but do not operate it, often paying for the service or being accommodated by the operator.

Syllogistic Steps

Sequential logical arguments that involve a major premise, a minor premise, and a conclusion, following the structure of syllogism.