When a price floor is set for a market, quantity supplied will be:

A. Less than the equilibrium quantity, and price will be less than the equilibrium price.
B. Less than the equilibrium quantity, and price will be greater than the equilibrium price.
C. Greater than the equilibrium quantity, and price will be less than the equilibrium price.
D. Greater than the equilibrium quantity, and price will be greater than the equilibrium price


Answer: D. Greater than the equilibrium quantity, and price will be greater than the equilibrium price

Economics

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