Use the following to answer question :
-(Figure: The Market for English Textbooks)Use Figure: The Market for English Textbooks.With a binding price floor at $90,the market outcome would be a _____ of _____ textbooks.
A) surplus;45
B) surplus;30
C) shortage;45
D) shortage;30

Question

Use the following to answer question : 
-(Figure: The Market for English Textbooks)Use Figure: The Market for English Textbooks.With a binding price floor at $90,the market outcome would be a _____ of _____ textbooks.
A) surplus;45 
B) surplus;30 
C) shortage;45 
D) shortage;30

Quizplus · Accepted Answer

A binding price floor set above the equilibrium price results in a surplus because the quantity supplied exceeds the quantity demanded at that price. In this case, the surplus is 45 textbooks.

Use the Following to Answer Question