26-when a price floor is the above equilibrium price: A- Quantity supplied will exceed quantity demanded B- The market will be in equilibrium C- This is a trick question because price floor generally exist below the equilibrium price D- Quantity demanded will exceed quantity supplied 27-shut down point situation when:
26-when a price floor is the above equilibrium price: A- Quantity supplied will exceed quantity demanded B- The market will be in equilibrium C- This is a trick question because price floor generally exist below the equilibrium price D- Quantity demanded will exceed quantity supplied 27-shut down point situation when:
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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please sir solve these questions please

Transcribed Image Text:26-when a price floor is the above equilibrium price:
A- Quantity supplied will exceed quantity demanded
B- The market will be in equilibrium
C- This is a trick question because price floor generally exist below the equilibrium price
D- Quantity demanded will exceed quantity supplied
27-shut down point situation when:
A- P=MC-ATC
B- P=MC=AFC
C- P=0
D- P=MC-TVC
28-MC curvs cut ATC at its:
A- Maximum point
B- Minimum point
C- Never cut
D- Any point
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