1. Consider a good with a price floor that is above the equilibrium price. If demand increases, what will happen to the price in the market and the quantity of exchanges in this market?

Select an answer and submit.

a

The price and the quantity will both increase.

b

The price will stay the same, and the quantity will increase.

c

The price may stay the same or may increase, and the quantity will increase.

d

The price and the quantity will stay the same.