A price floor Select one: a. always results in a surplus. O b. always results in a shortage. results in a surplus if the floor price is higher than the equilibrium price. O d. results in a shortage if the floor price is higher than the equilibrium price.

A price floor Select one: a. always results in a surplus. O b. always results in a shortage. results in a surplus if the floor price is higher than the equilibrium price. O d. results in a shortage if the floor price is higher than the equilibrium price.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 5.10P

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Question

A price floor
Select one:
O a. always results in a surplus.
O b. always results in a shortage.
results in a surplus if the floor price is higher than the equilibrium price.
O d. results in a shortage if the floor price is higher than the equilibrium price.

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