« previous next »

Author Question: A price floor (support price) set above equilibrium: a. is a minimum legal price set by government ... (Read 142 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jun 30, 2018
A price floor (support price) set above equilibrium:
 a. is a minimum legal price set by government above equilibrium.
  b. causes the quantity supplied to exceed the quantity demanded.
  c. creates a surplus.
  d. can represent the effect of a minimum wage.
  e. all of these.

Question 2

A legally mandated minimum wage is an example of:
 a. the invisible hand principle. b. a price floor.
  c. a price ceiling. d. a fringe benefit.


taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

CBme

  • Hero Member
  • *****
  • Posts: 548
Reply #2 on: Jun 30, 2018
Thank you :)


taylorsonier

  • Sr. Member
  • ****
  • Posts: 377
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

Eating carrots will improve your eyesight. Carrots are high in vitamin A (retinol), which is essential for good vision. It can also be found in milk, cheese, egg yolks, and liver.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

This graphic illustrates the original systems model of politics advanced by David Easton. Politics This graphic illustrates the original systems model of politics advanced by David Easton. Politics
In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th In the summer of 1793, a yellow fever epidemic struck Philadelphia, killing nearly 4,000. Tens of th
Leaning against a table with a pillow for support. Leaning against a table with a pillow for support.
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
Price of Computers, 1982–2010 Price of Computers, 1982–2010
American Government: Roots and Reform, AP* Edition, 12th Edition American Government: Roots and Reform, AP* Edition, 12th Edition
Video: Kidney Stones

For a complete list of videos, visit our video library