01. What would be the impact in this market, of a price floor set at $10 a) A market surplus of 7 b) A market surplus of 10 c) A market surplus of 21 d) There would be no impact e) A market shortage of 7 f) A market shortage of 10 g) A market shortage of 2102. What would be the impact in this market, of a price floor set at $13 a) A market surplus of 7 b) A market surplus of 10 c) A market surplus of 21 d) There would be no impact e) A market shortage of 7 f) A market shortage of 10 g) A market shortage of 21 28 P2420161284004 8121620SDQ24

A price ceiling is the price set by the government which is the maximum that should be charged from…

Answered: What would be the impact in this…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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01. What would be the impact in this market, of a price floor set at $10

		a) A market surplus of 7
		b) A market surplus of 10
		c) A market surplus of 21
		d) There would be no impact
		e) A market shortage of 7
		f) A market shortage of 10
		g) A market shortage of 21

02. What would be the impact in this market, of a price floor set at $13

		a) A market surplus of 7
		b) A market surplus of 10
		c) A market surplus of 21
		d) There would be no impact
		e) A market shortage of 7
		f) A market shortage of 10
		g) A market shortage of 21

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