When a price floor is set below the market equilibrium price:   a. quantity supplied will exceed quantity demanded.     b. quantity demanded will equal quantity supplied.     c. quantity demanded will exceed quantity supplied.     d. demand and supply will both shift until the new market equilibrium is reached

Macroeconomics
13th Edition
ISBN:9781337617390
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter3: Supply And Demand: Theory
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When a price floor is set below the market equilibrium price:

  a. quantity supplied will exceed quantity demanded.  
  b. quantity demanded will equal quantity supplied.  
  c. quantity demanded will exceed quantity supplied.  
  d. demand and supply will both shift until the new market equilibrium is reached
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