Which of the following is true?
i.A price ceiling set below the equilibrium price decreases search activity.
ii.A minimum wage is an example of a price ceiling.
iii.A price support decreases the quantity consumed.
A) Only i
B) Only ii
C) Only iii
D) i and iii
E) ii and iii

Question

Quizplus · Accepted Answer

A price support, which is a minimum price set above the equilibrium, leads to a surplus and decreases the quantity consumed as the market cannot clear at the higher price.

Which of the Following Is True