A price floor that is set above the equilibrium price A) ...

[javeds]

A price floor that is set above the equilibrium price
 
  A) causes suppliers to lower their prices.
  B) is binding.
  C) is non-binding.
  D) creates a shortage.

Question 2

A risk premium
 
  A) is required to get a risk-neutral person to make a fair bet.
  B) is the maximum amount needed to compensate a decision-maker to willingly take a risk.
  C) is the maximum amount a decision-maker would pay to avoid taking a risk.
  D) is the minimum amount a decision-maker would pay to avoid taking a risk.

[poopface]

Answer to Question 1

B

Answer to Question 2

C

[javeds]

Thanks for the timely response, appreciate it

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