Answered: an example of a Price Floor? Select…

an example of a Price Floor? Select one: a. dairy price supports b. gasoline price controls in the 1970’s c. rent vouchers d.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Which of the following was used in class as an example of a Price Floor?

Select one:

dairy price supports

gasoline price controls in the 1970’s

rent vouchers

rent control

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Expert Solution

Step 1

Price floor is a legal maximum on the price at which a good can be sold.

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