If a price floor is set by the government below the market equilibrium price, then Group of answer choices A: the market equilibium price will prevail. B: the quantity supplied in the market is greater than the quantity demanded, thereby creating a price ceiling. C: the quantity demanded in the market is greater than the quantity supplied, thereby creating a surplus. D: the quantity supplied in the market is greater than the quantity demanded, thereby creating a shortage.
If a price floor is set by the government below the market equilibrium price, then Group of answer choices A: the market equilibium price will prevail. B: the quantity supplied in the market is greater than the quantity demanded, thereby creating a price ceiling. C: the quantity demanded in the market is greater than the quantity supplied, thereby creating a surplus. D: the quantity supplied in the market is greater than the quantity demanded, thereby creating a shortage.
Chapter4: Markets In Action
Section: Chapter Questions
Problem 15SQ
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If a price floor is set by the government below the market equilibrium price, then
Group of answer choices
A: the market equilibium price will prevail.
B: the quantity supplied in the market is greater than the quantity demanded , thereby creating a price ceiling .
C: the quantity demanded in the market is greater than the quantity supplied, thereby creating a surplus.
D: the quantity supplied in the market is greater than the quantity demanded, thereby creating a shortage.
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