When a price floor is set higher than the market price for a product, what will result?
The quantity supplied will exceed the quantity demanded.
The quantity demanded will exceed the quantity supplied.
The quantity demanded and the quantity supplied will be equal.
The quantity supplied and the quantity demanded will be unaffected.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When a price floor is set higher than the market price for a product, what will result? The quantity supplied will exceed the quantity ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
At the end of the year, Marline Corporation determines that its ending inventory has a cost of $2,000 and a net realizable value of $1,900.
Answers (1)
A corporation has $7,000,000 in income after paying preferred dividends of $500,000. The company has 1,000,000 shares of common stock outstanding. The market price of the stock is $56. What is the price-earnings ratio
Answers (1)
Accepting a special order is profitable whenever the revenue from the special order exceeds: a. The materials and direct labor costs of producing the order. b. The average unit cost of production multiplied by the number of units in the order. c.
Answers (1)
Customer relationship software allows bank service representatives to determine quickly which types of accounts, loans, and credit cards a customer currently has.
Answers (1)
A product that effectively increases consumers' incomes when its price decreases.
Answers (1)
New Questions in Business
In need of extra cash, Troy and Lily decide to withdraw $2 comma 100 from their traditional IRA. They are both 40 years old. They are in a 35 % marginal tax bracket. What will be the tax consequences of this withdrawal?
Answers (1)
When the price of hot dogs is $1.50 each, 500 hot dogs are sold every day. After the price falls to $1.35 each, 510 hot dogs are sold every day. At the original price, what is the price elasticity of demand for hot dogs?
Answers (1)
What type of trend is caused by changes in the characteristics of a population? A. A style trend B. A competitive trend C. A lifestyle trend D. A demographic trend
Answers (1)
Identify each value as either intrinsic or extrinsic. friendship income peace satisfaction health insurance
Answers (1)
What is the difference between purpose and objectives in setting goals for future.
Answers (1)