The following are correct statements about a Price Floor, EXCEPT: Question 9 options: It is a regulated price above the equilibrium price It creates an excess of supply in the market. It will for sure increase total consumer's surplus. It creates a Dead Weight Loss.

The following are correct statements about a Price Floor, EXCEPT: Question 9 options: It is a regulated price above the equilibrium price It creates an excess of supply in the market. It will for sure increase total consumer's surplus. It creates a Dead Weight Loss.

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter4: Markets In Action

Section: Chapter Questions

Problem 18SQ

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The following are correct statements about a Price Floor, EXCEPT:

Question 9 options:

	It is a regulated price above the equilibrium price
	It creates an excess of supply in the market.
	It will for sure increase total consumer's surplus.
	It creates a Dead Weight Loss.

Definition Video Definition Lowest legal price that can be paid in a market for goods and services, labor, or financial capital. A price floor protects a price from falling below a stipulated level. Video

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