
Which statement is the best 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 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 policymakers into enacting the price floor.
C) Buyers of corn, recognizing that the price floor is good for them, have pressured policymakers into enacting the price floor.
D) Sellers of corn, recognizing that the price floor is good for them, have pressured policymakers into enacting the price floor.
Correct Answer:
Verified
Q60: Under rent control,landlords cease to be responsive
Q61: Which is the most likely result of
Q62: What does a binding price floor cause
A)excess
Q63: Why was the minimum wage instituted
A)in order
Q64: Do minimum-wage laws in Canada vary by
Q66: Upon whom does a minimum wage have
Q67: What do minimum-wage laws dictate
A)the average price
Q68: Figure 6-7 Q69: What will a minimum wage do Q70: Figure 6-7
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A)It will
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