The presence of price floors in a market usually is anindication that:
A) there is an insufficient quantity of a good or service being produced.
B) the forces of supply and demand are unable to establish an equilibrium price.
C) sellers of the good or service outnumber the buyers.(True Answer ) Correct
D) policy makers believe the price floor does not involve inequities.
Correct Answer:
Verified
Q109: Which of the following statements is TRUE?
Q113: Q121: Ben is willing to work for $4/hour Q126: Which of the following statements is NOT Q137: Impeding price signals by imposing price ceilings Q184: The most common example of a price Q206: The minimum wage is an example of Q210: For a price floor to prevent market Q211: If a minimum wage is posted in Q229: The U.S. Congress first instituted the minimum
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