Simply establishing a price floor affects/changes
A. quantity demanded and quantity supplied.
B. demand and supply.
C. quantity demanded and supply.
D. demand and quantity supplied.
Answer: A
You might also like to view...
Which of the following is an example of an open-access resource?
a. a city subway system b. a college education c. an elementary school education d. whales in the ocean e. pandas in the zoo
According to the interest rate effect, an increase in the price level causes people to:
a) increase their money holdings, which increases interest rates and decreases investment spending. b) decrease their money holdings, which increases interest rates and decreases investment spending. c) to increases their money holdings, which decreases interest rates and decreases investment spending. d) to decrease their money holdings, which decreases interest rates and increases investment spending.
Figure 11-9
In Figure 11-9, how much more than the short-run competitive price will the profit-maximizing monopolist charge?
a.
$1
b.
$2
c.
$3
d.
$10
Suppose Sue's buys a good for $60 on eBay. If the consumer surplus from the sale is $25, Sue would have been willing to pay:
A. $35. B. $25. C. $60. D. $85.