Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
Textbook Question
Chapter 4, Problem 9SCQ

Identify the most accurate statement. A price floor will have live largest effect if it is set:

1. substantially above the equilibrium price
2. slightly above the equilibrium price
3. slightly below the equilibrium price
4. substantially below the equilibrium price

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