Which of the following is correct for a price floor set above the equilibrium price?

Related MCQs

• Which of the following is correct for the price ceiling which is set below the market‟s equilibrium price?
• What will happen to the equilibrium price and quantity of peanut butter if peanuts increase in price and the price of jelly decreases?
• If a dealer is prepared to supply 1000 sets of a 29” Color TV if the price is `12,000 per set, however if the price raises to `15,000 he is prepared to supply 1,500 pieces. The elasticity of supply of TV set is
• The individual demand and supply curve of a product are Dx = 12-2px, Sx=3+5px, where Px stand for price and Dx and Sc respectively stands for quantity demanded and quantity supplie(d) If there are 5000 consumers and 1000 suppliers for the product under question. What will be the equilibrium price
• What is the quantity demanded and supplied at the equilibrium price (Ref. Q. No. 278)
• In a market economy equilibrium price is reached at
• A shift outward in supply curve will result in equilibrium price
• A reduction in the number of producers will result in equilibrium price
• As a certain type of clothing becomes more fashionable, we would expect its equilibrium price
• If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price