Price floors are often introduced in agricultural markets for which of the following reasons?
A) In order to decrease the price of the product abroad below the cost of production.
B) A government regulation stipulating conditions for sale of products abroad. (This doesn't sound like a reason. Needs rewording.)
C) The price at which the quantity demanded equals the quantity supplied. (This doesn't sound like a reason. Needs rewording.)
D) To support farmers.
Correct Answer:
Verified
Q3: Under what circumstances can an illegal market
Q11: What is a price control?
A)The price of
Q18: What is a price ceiling?
A)A government regulation
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