This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which of the following is true of a price floor? a. A price floor allows supply and demand to ... (Read 123 times)

OSWALD

  • Hero Member
  • *****
  • Posts: 580
on: Jun 30, 2018
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

steff9894

  • Sr. Member
  • ****
  • Posts: 337
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

a


OSWALD

  • Hero Member
  • *****
  • Posts: 580
Reply #2 on: Jun 30, 2018
Thank you :)


steff9894

  • Sr. Member
  • ****
  • Posts: 337
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Inotropic therapy does not have a role in the treatment of most heart failure patients. These drugs can make patients feel and function better but usually do not lengthen the predicted length of their lives.

Did you know?

Ether was used widely for surgeries but became less popular because of its flammability and its tendency to cause vomiting. In England, it was quickly replaced by chloroform, but this agent caused many deaths and lost popularity.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Serum cholesterol testing in adults is recommended every 1 to 5 years. People with diabetes and a family history of high cholesterol should be tested even more frequently.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Which of the following statements is true of linkage? Which of the following statements is true of linkage?
This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande This lithograph by Currier and Ives gives an erroneous impression of the “battle.” Major Robert Ande
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Oil supply and prices affect the economies of nations Oil supply and prices affect the economies of nations
Who Oversees the Food Supply? Who Oversees the Food Supply?
Blood Supply of the Liver Blood Supply of the Liver
Video: Digestive chemicals - water, gastric acid, bile & bicarbonate

For a complete list of videos, visit our video library