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Author Question: Which of the following is true of a price floor? a. A price floor allows supply and demand to ... (Read 93 times)

OSWALD

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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.


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steff9894

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

e

Answer to Question 2

a


OSWALD

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Reply #2 on: Jun 30, 2018
Thank you :)


steff9894

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Reply #3 on: Jun 30, 2018
Happy to help you


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