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Author Question: If a price floor is a binding constraint on a market, then a. the equilibrium price must be above ... (Read 94 times)

jon_i

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on: Jun 30, 2018
If a price floor is a binding constraint on a market, then
 a. the equilibrium price must be above the price floor.
 b. the quantity demanded must exceed the quantity supplied.
  c. sellers cannot sell all they want to sell at the price floor.
  d. buyers cannot buy all they want to buy at the price floor.

Question 2

Money lowers the transaction cost when:
 a. the economy is experiencing rapid inflation.
  b. its value is stable.
 c. the rate of inflation is uncertain.
 d. there is widespread deflation


covalentbond

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


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