Referring to question 2: Suppose the government imposes a $40 price floor. If this price floor is binding, it would lead to a ____ of _____ units of output in the market. Group of answer choices shortage; 100 shortage; 200 surplus; 100 surplus; 200
Referring to question 2: Suppose the government imposes a $40 price floor. If this price floor is binding, it would lead to a ____ of _____ units of output in the market. Group of answer choices shortage; 100 shortage; 200 surplus; 100 surplus; 200
Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781305971509
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter6: Supply, Demand, And Government Policies
Section: Chapter Questions
Problem 10PA
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Referring to question 2: Suppose the government imposes a $40 price floor . If this price floor is binding, it would lead to a ____ of _____ units of output in the market.
Group of answer choices
shortage; 100
shortage; 200
surplus; 100
surplus; 200
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