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 107 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?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Barrel-vaulted gallery, ground floor of the Colosseum, Rome. Barrel-vaulted gallery, ground floor of the Colosseum, Rome.
The introduction of a new generation of electric and hybrid cars will reduce the demand for oil The introduction of a new generation of electric and hybrid cars will reduce the demand for oil
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
Superior view of sphenoid bone in floor of cranium Superior view of sphenoid bone in floor of cranium
Video: Insulin (glucose uptake by body cells), glycogenesis and lipogenesis

For a complete list of videos, visit our video library