Figure 6-9 prace 12 11 10 NO 9 00 2 7 6 3 D 4 8 12 16 20 24 28 33 38 40 4*** Refer to Figure 6-9. A price floor set at O a. $7 will be binding and will result in a surplus of 4 units. O b. $4 will be binding and will result in a shortage of 16 units. O c. $7 will be binding and will result in a surplus of 8 units. O d. $4 will be binding and will result in a shortage of 8 units.

Figure 6-9 prace 12 11 10 NO 9 00 2 7 6 3 D 4 8 12 16 20 24 28 33 38 40 4*** Refer to Figure 6-9. A price floor set at O a. $7 will be binding and will result in a surplus of 4 units. O b. $4 will be binding and will result in a shortage of 16 units. O c. $7 will be binding and will result in a surplus of 8 units. O d. $4 will be binding and will result in a shortage of 8 units.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter3: Demand And Supply

Section: Chapter Questions

Problem 18RQ: If the price is above line equilibrium level, would you predict a surplus or a shortage? If line...

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