Question
Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size
Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus?
a.An increase in demand.
b.A decrease in demand.
c.An increase in supply.
d.Any of the above.
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
