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Author Question: A price floor would be established in cases where the government believed the market equilibrium ... (Read 48 times)

drink

  • Hero Member
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  • Posts: 554
on: Jun 30, 2018
A price floor would be established in cases where the government believed the market equilibrium price would:
 a. result in a surplus.
  b. be too high.
  c. result in a shortage.
  d. be too low.
  e. yield excess profits.

Question 2

A market consequence of a price floor program is that:
 a. a shortage of the product will develop.
  b. producers will stop supplying the product.
  c. some rationing device must then be instituted.
  d. a surplus of the product will develop.
  e. there will be an excess demand for the product.


mjenn52

  • Sr. Member
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  • Posts: 351
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

d


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