A Price Floor Set Above the Equilibrium Price Causes a Surplus

question 82

True/False

A price floor set above the equilibrium price causes a surplus in the market.

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Definitions:

Dissociate

To formally end association or involvement with a business entity or partnership.

Partnership

A business operation legally established by two or more people sharing both profits and management duties.

Equal Right

The principle that all individuals should have the same rights and opportunities under the law.

Intent

The state of mind with which an act is done, signifying purpose or intention.