When a binding price floor is imposed on a market,
a. price no longer serves as a rationing device.
b. the quantity demanded at the price floor exceeds the quantity that would have been demanded without the price floor.
c. all sellers benefit.
d. All of the above are correct.
a
You might also like to view...
Another name for the money of checking accounts is
A. certificates of deposit. B. time deposits. C. demand deposits. D. bank notes.
If MB grows smaller and MC grows larger as the activity level grows, then:
A. an interior action for which MB = MC is the best choice. B. net benefit can be increased by increasing the action. C. net benefit can be increased by decreasing the action. D. there is no best choice.
All suppliers of economic products must decide__________to offer for sale at various prices
Fill in the blank(s) with the appropriate word(s).
To economists, the main difference between the short run and the long run is that:
A. the law of diminishing returns applies in the long run, but not in the short run. B. in the long run all resources are variable, while in the short run at least one resource is fixed. C. fixed costs are more important to decision making in the long run than they are in the short run. D. in the short run all resources are fixed, while in the long run all resources are variable.