Which of the following is not a likely result of a price floor?
A) Excess supply of a good
B) A persistent shortage
C) A market price higher than equilibrium
D) The quantity supplied exceeds the quantity demanded.
E) Resources are diverted away from other activities to deal with the extra output.
Correct Answer:
Verified
Q2: A price ceiling would result in a(n)
A)surplus.
B)shortage.
C)increase
Q3: If price gouging is prohibited by the
Q4: The government can issue ration coupons to
Q5: Does a price ceiling result in a
Q6: Rent control for apartments in New York
Q7: A price ceiling is typically set below
Q8: In the case of a price floor,
A)there
Q9: Which of the following statements about price
Q10: One of the results of a price
Q11: A price floor that is effective results
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