When a Government Imposes a Price Floor on a Good

question 7

Multiple Choice

When a government imposes a price floor on a good that is above the market equilibrium price

• A)a surplus will develop.
• B)a shortage will develop.
• C)producers will increase their sales price.
• D)consumers will increase their demand for the good.

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The phenomenon where individuals exert less effort when working in a group compared to when working alone.

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