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Author Question: A price restriction that tells suppliers the minimum price they can sell their goods for is also ... (Read 72 times)

lidoalex

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on: Jul 1, 2018
A price restriction that tells suppliers the minimum price they can sell their goods for is also known as
 
  A) a price ceiling.
  B) a quota.
  C) a price floor.
  D) deadweight loss.

Question 2

The fact that many people drive faster than the posted speed limit suggests that
 
  A) not all price floors are enforceable.
  B) not all price and quantity regulations are enforceable.
  C) individual drivers act irrationally.
  D) government regulation is utterly useless.
Microeconomics ¦ Perloff ¦ 8th Edition
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al

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

B


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