Which of the following is the most likely explanation for the imposition of a price floor in the market for corn?
A) Policymakers have studied the effects of the price floor carefully and they recognize that the price floor is advantageous for society as a whole.
B) Buyers and sellers of corn have agreed that the price floor is good for both of them and have therefore pressured policy makers into enacting the price floor.
C) Buyers of corn, recognizing that the price floor is good for them, have pressured policy makers into enacting the price floor.
D) Sellers of corn, recognizing that the price floor is good for them, have pressured policy makers into enacting the price floor.
Correct Answer:
Verified
Q1: Policymakers use taxes
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A)is a legal maximum on
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A)is a legal minimum on
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Q13: Figure 6-1 Q15: To say that a price ceiling is Q16: Suppose a price ceiling is not binding;this Q18: Figure 6-1 Q19: When,in a particular market,the law of demand Q273: Figure 6-1 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
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