The graph shown best represents:
A. a binding price ceiling.
B. a binding price floor.
C. a missing market.
D. a market for an inferior good.
B. a binding price floor.
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Article 102 of the Treaty on the Functioning of the European Union (TFEU) prohibits a dominant firm from doing all of the following except which one?
A) placing trading partners at a competitive disadvantage by practicing price discrimination B) charging an unfair price C) limiting or controlling production in markets through market division D) buying at a price that is unfairly low
In the graph shown, what could balance the trade deficit (reduce domestic consumption)?
A. A hurricane that damages domestic manufacturing plants B. Expansionary fiscal policy C. Lower domestic wages D. Contractionary monetary policy
If a consumer's fixed income increases, his opportunity cost also increases.
Answer the following statement true (T) or false (F)
Managers of profit centers earn more when their divisions
a. increase their sales and increase their costs b. decrease their sales and increase their costs c. decrease the costs of the components for which they are responsible d. increase the costs of the components for which they are responsible