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:

LLC Owners

Members who hold ownership interests in a Limited Liability Company, enjoying rights to profits and decisions in managing the company, while having limited personal liability.

LLC Taxed

Refers to the tax classification options for Limited Liability Companies, where they can choose to be taxed as a sole proprietorship, partnership, or corporation.

Operating Agreement

A legal document outlining the governance and operational protocols of a Limited Liability Company (LLC), agreed upon by its members.

Profit and Loss

A financial statement summarizing the revenues, costs, and expenses incurred during a specified period.