If a price floor is not binding, then
A) the equilibrium price is above the price floor.
B) the equilibrium price is below the price floor.
C) there will be a surplus in the market.
D) there will be a shortage in the market.
Correct Answer:
Verified
Q216: Figure 6-21 Q217: Figure 6-21 Q218: Figure 6-21 Q219: Figure 6-21 Q220: Minimum-wage laws dictate Q222: If the government removes a binding price Q223: Figure 6-1 Q224: A legal minimum on the price at Q225: If a nonbinding price floor is imposed Q226: If a price floor is not binding, Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the exact wage that firms
Graph (a)
Graph (b)
