The surplus caused by a binding price floor will be greatest if ?

Related Mcqs:

Suppose the equilibrium price for apartments is Rs500 per month and the government imposes rent controls of Rs250 Which of the following is unlikely to to occur as a result of the rent controls?

A. There may be long lines of buyers waiting for apartments B. Landlords may discriminate among apartment renters C. Landlords may be offered bribes to rent apartments D. there will be a storage of housing E. the quality of apartments will improve...

Which of the following statements about a binding price ceiling is true ?

A. The shortage created by the price ceiling is greater in the short ran than in the long run. B. The surplus created by the price ceiling is greater in the short run than in the long run C. The surplus created by the price ceiling is greater in the long run than in the … Which of the following statements about a binding price ceiling is true ?Read More...

Which side of the market is more likely to lobby government for a price floor ?

A. the buyers B. Neither buyers nor sellers desire a price floor. C. the sellers D. Both buyers and sellers desire a price floor....

Which of the following is an example of price floor ?

A. the minimum wage B. rent controls C. restricting petrol prices to Rs100 per litre when the equilibrium price is Rs150 per litre D. All of these answers are price floors...

Which of the following workers would be most likely to find it more difficult to get a job after a rise in the minimum wage rate?

A. a teenage worker with few qualifications. B. A manual worker with fifteen years of work experience C. A professional worker with university degree. D. All there are equally likely to find it difficult to get a job...