Exhibit 5-1

-Refer to Exhibit 5-1. A price floor set at $15 would create a shortage of 20 units

Name: Exhibit 5-1 -Refer to Exhibit 5-1. A price floor set at $15 would create a shortage of 20 units
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Question

Exhibit 5-1
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-Refer to Exhibit 5-1. A price floor set at $15 would create a shortage of 20 units

Quizplus · Accepted Answer

A price floor set above the equilibrium price would create a surplus, not a shortage, because the quantity supplied would exceed the quantity demanded at that price.

Exhibit 5-1 ​ ​

Exhibit 5-1