Which of the following is true of a price floor? a. A price ...

[OSWALD]

Which of the following is true of a price floor?
 a. A price floor allows supply and demand to function effectively.
  b. A price floor is set such that the price is not allowed to increase above a certain level.
  c. A price floor is beneficial to buyers in a market.
  d. A price floor usually creates a shortage of a good in a market.
  e. A price floor is set such that the price is not allowed to decrease below a certain level.

Question 2

An economist defines efficiency as:
 a. the maximization of output from available resources.
  b. the maximization of revenue from available resources.
  c. the maximization of inputs using available resources.
  d. the creation of a surplus using available resources.

[steff9894]

Answer to Question 1

e

Answer to Question 2

a

[OSWALD]

Thank you

[steff9894]

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