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.
Figure 7.1 shows the rapid decline in the trust of Americans in government since the 1960s. This de
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
Vapour-liquid equilibrium acetone + water
Reconstruction Drawing of Trajan's Market
What will be the pH of the solution once equilibrium is established?
Application of the Hardy–Weinberg equilibrium