49. Government of China is dictating the minimum salary to be paid for the workers in the apple factory. The workers in the factory are happy that they are going to get better salary than the previous month. As a student of economics you will categorize this in to_____________. a. Market Price. b. None of these c. Price Floor d. Price Ceiling.
49. Government of China is dictating the minimum salary to be paid for the workers in the apple factory. The workers in the factory are happy that they are going to get better salary than the previous month. As a student of economics you will categorize this in to_____________. a. Market Price. b. None of these c. Price Floor d. Price Ceiling.
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 6MC
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49. Government of China is dictating the minimum salary to be paid for the workers in the apple factory. The workers in the factory are happy that they are going to get better salary than the previous month. As a student of economics you will categorize this in to_____________.
a.
Market Price .
b.
None of these
c.
Price Floor
d.
Price Ceiling .
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