A price floor that is set above market equilibrium will cause
A) an excess quantity demanded.
B) a shortage.
C) a surplus.
D) queuing on the part of consumers.
Correct Answer:
Verified
Q196: Because of scarcity, rationing is
A) unimportant because
Q197: Rationing goods on the basis of price
Q198: What would happen in the market for
Q199: All of the following are methods of
Q200: Why does a sports car cost more
Q202: Which rationing system leads to the most
Q203: If the government sets a maximum price
Q204: If a price ceiling is set above
Q205: Which of the following statements is FALSE?
A)
Q206: "Scarcity implies that some way of rationing
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