Which statement best describes a price floor
A) A price floor is a legal minimum on the price at which a good can be sold.
B) A price floor is a legal maximum on the price at which a good can be sold.
C) A price floor is temporarily set below the market equilibrium.
D) A price floor is temporarily set at the market equilibrium.
Correct Answer:
Verified
Q1: Why are policymakers led to control prices
A)They
Q2: Figure 6-1 Q3: What happens if a binding price ceiling Q4: What are the outcomes of price controls Q6: Why are policymakers led to control prices Q7: What is the case when a price Q8: What is the role of price controls Q9: What is a legal maximum price at Q10: When will a price ceiling be binding Q11: What will a price ceiling that is
A)Price
A)They
A)only
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