Question 11 (1 point) _I: A price floor is O A maximum price set by government that sellers may charge for a good. O The difference between the initial equilibrium price and the equilibrium price after a decrease in supply. 0 The minimum price that consumers are willing to pay for a good. 0 A minimum price set by government that sellers may charge for a good. Question 8 (1 point) _I: taxes are applied to specific goods or services as a source of revenue for governments. 0 Corporate income 0 Proportional Question 9 (1 point) _I: is an amount of money provided to firms to help reduce production costs which can then be passed on as lower prices, and which can encourage consumption. Question 10 (1 point) _I: If a price floor is set above the equilibrium price, Q Is not binding or effective. 0 It causes quantity demanded to be equal to quantity supplied. 0 The market cannot exist. 0 It is binding or effective. Question 12 (1 point) _I: If a price ceiling is set above the equilibrium price, Q It causes quantity demanded to be more than quantity supplied. 0 Quantity demanded will equal quantity supplied. 0 The market cannot exist. Q It is binding or effective. Question 13 (1 point) _I: If government officials are mainly interested in generating tax revenue, then they should tax goods for which demand is price inelastic. Question 14 (1 point) _I: describes who bears the burden of a tax. 0 Tax incentives 0 Tax incidence