The benefit of a price floor to ________ is ________.
A) producers; the selling price of the product is above the equilibrium price
B) producers; the floor creates excess demand
C) consumers; the selling price of the product is below the equilibrium price
D) consumers; the floor creates excess supply
Correct Answer:
Verified
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Q96: Goods are allocated in a market system
Q98: Nonprice rationing will happen whenever there is
Q99: The government imposes a price floor on
Q100: Related to the Economics in Practice on
Q101: Effective price floors prevent the market price
Q102: Refer to the information provided in Figure
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