Solved

If the Government Imposed a Legal Minimum (Price Floor) on a Product

Question 4

Multiple Choice

If the government imposed a legal minimum (price floor) on a product, this could lead to:


A) the government having to subsidise producers to increase supply
B) a surplus of the product
C) producers entering the black market to sell the product at a higher price
D) a shortage of the product

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents