$4 $3 $2 $1 A B 50 What will MOST LIKELY occur if the government imposes a minimum price of $4? с 100 150 200 price ceiling; shortage price ceiling; surplus price floor; shortage S price floor; surplus

$4 $3 $2 $1 A B 50 What will MOST LIKELY occur if the government imposes a minimum price of $4? с 100 150 200 price ceiling; shortage price ceiling; surplus price floor; shortage S price floor; surplus

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

$4
$3
$2
$1
A
B
50
What will MOST LIKELY occur if the government imposes
a minimum price of $4?
с
100 150 200
price ceiling; shortage
price ceiling; surplus
price floor; shortage
S
price floor; surplus

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