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 131 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?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Vital signs (blood pressure, temperature, pulse rate, respiration rate) should be taken before any drug administration. Patients should be informed not to use tobacco or caffeine at least 30 minutes before their appointment.

Massive amounts of wood are stored on the forest floor of old-growth temperate coniferous forests of Massive amounts of wood are stored on the forest floor of old-growth temperate coniferous forests of
Barrel-vaulted gallery, ground floor of the Colosseum, Rome. Barrel-vaulted gallery, ground floor of the Colosseum, Rome.
How to create a price index to calculate inflation for a basket of goods How to create a price index to calculate inflation for a basket of goods
Turn baby over, placing him or her sideways across your legs if on floor or across pillow. Turn baby over, placing him or her sideways across your legs if on floor or across pillow.
U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994 U.S. Subsurface Coal Mining: Output, Price, and Output per Worker-Hour, 1949–1994
The diagonal of the floor of a rectangular office cubicle is 2 ft longer than the ... The diagonal of the floor of a rectangular office cubicle is 2 ft longer than the ...
Video: Double Vacuum Process (Illustration No Audio)

For a complete list of videos, visit our video library