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Figure 6-6 -Refer to Figure 6-6.Which of the Following Statements Is Correct

Question 84

Multiple Choice

Figure 6-6 Figure 6-6 -Refer to Figure 6-6.Which of the following statements is correct? A) A price ceiling set at $12 would be binding,but a price ceiling set at $8 would not be binding. B) A price floor set at $8 would be binding,but a price ceiling set at $8 would not be binding. C) A price ceiling set at $9 would result in a surplus. D) A price floor set at $11 would result in a surplus.
-Refer to Figure 6-6.Which of the following statements is correct?

A) A price ceiling set at $12 would be binding,but a price ceiling set at $8 would not be binding.
B) A price floor set at $8 would be binding,but a price ceiling set at $8 would not be binding.
C) A price ceiling set at $9 would result in a surplus.
D) A price floor set at $11 would result in a surplus.

Correct Answer: