Answer: E) the market will remain in equilibrium.
Suppose a market is in equilibrium. If a price floor is set in this market below the equilibrium price, it is likely that:
A) quantity demanded will increase.
B) a surplus will arise.
C) a shortage will arise.
D) the quantity sold will rise.
E) the market will remain in equilibrium.
Economics
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If you know that with 8 units of output, average fixed cost is $40 and average variable cost is $25, then total cost at this output level is:
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Economics