A Price Floor Is

question 178

Multiple Choice

A price floor is

• A)a legal minimum on the price at which a good can be sold.
• B)often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.
• C)a source of inefficiency in a market.
• D)All of the above are correct.

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Definitions:

Fault

A defect in a system that can cause it to fail or perform suboptimally.

Sealed Beams Headlights

Headlight units with a sealed, all-in-one design that includes the filament, reflector, and lens, providing a specific beam pattern.

High-intensity Discharge (HID)

A type of lighting technology that produces light by passing an electrical charge through a gas, often used in automotive headlights.

Fluorescent

Relating to the emission of light by a substance that has absorbed light or other electromagnetic radiation of a different wavelength.