When a price floor is above the equilibrium price-09121
When a price floor is above the equilibrium price,
This multiple choice question (MCQ) is related to the book/course
vu eco402 Microeconomics.
It can also be found in
vu eco402 Final Term - Quiz No.4.
When a price floor is above the equilibrium price,
quantity demanded will exceed quantity supplied.
quantity supplied will exceed quantity demanded.
the market will be in equilibrium.
This is a trick question because price floors generally exist below the equilibrium price.
