A price floor means that:
A) inflation is severe in this particular market
B) some sellers are artificially restricting supply in order to raise prices
C) the government is imposing a legal price that is below the equilibrium price
D) the government is imposing a legal price that is above the equilibrium price
E) there will be shortage
Correct Answer:
Verified
Q45: Which of the following is not a
Q46: Rent controls cause:
A)a transfer of consumer surplus
Q47: Assume the demand for a product is
Q48: Price ceilings and price floors:
A)cause surpluses and
Q49: If agricultural price supports are combined with
Q51: An effective price floor on wheat will:
A)force
Q52: Which of the following generalizations is correct?
A)The
Q53: A price ceiling means that:
A)the relevant product
Q54: The main reason for agricultural price supports
Q55: 
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