Exhibit 4-9 Data on supply and demand Suppose a price floor is set by the government above the market equilibrium price. Which of the following will result?
A)There will be a surplus.
B)The quantity demanded will exceed the quantity supplied.
C)The demand curve will shift to the left.
D)None of these.

Question

Exhibit 4-9 Data on supply and demand  Suppose a price floor is set by the government above the market equilibrium price. Which of the following will result?
A)There will be a surplus. 
B)The quantity demanded will exceed the quantity supplied. 
C)The demand curve will shift to the left. 
D)None of these.

Quizplus · Accepted Answer

The Answer of Exhibit 4-9 Data on supply and demand  Suppose a price floor is set by the government above the market equilibrium price. Which of the following will result?
A)There will be a surplus. 
B)The quantity demanded will exceed the quantity supplied. 
C)The demand curve will shift to the left. 
D)None of these.

Exhibit 4-9 Data on Supply and Demand Suppose a Price