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Answer to Question #129593 in Microeconomics for mcedisi
Question #129593
Which of the following results from an effective price floor? (2)
(1) Equilibrium
(2) Producer surplus
(3) Excess supply
(4) Excess deman
(1) Equilibrium
(2) Producer surplus
(3) Excess supply
(4) Excess deman
Expert's answer
Which of the following results from an effective price floor?
(1) Equilibrium
(2) Producer surplus
(3) Excess supply
(4) Excess demand
The answer is: (2) Producer surplus and (3) Excess supply
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