Questions
Single choice
A price floor is
Options
A.often imposed when buyers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.
B.a legal minimum on the price at which a good can be sold.
C.a source of efficiency in a market.
D.a legal maximum on the price at which a good can be sold.
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Step-by-Step Analysis
The question asks us to identify what a price floor is from the given choices.
Option 1: 'often imposed when buyers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.' This......Login to view full explanationLog in for full answers
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