Which of the following is an example of a price floor?
a. rent controls
b. maximum prices for gasoline
c. usury laws that set maximum interest rates
d. the minimum wage
d
Economics
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Which of the following equals the ratio of the change in total revenues over the change in output?
A) total cost B) average revenue C) demand D) marginal revenue
Economics
If a firm decides to ignore the reactions of its rivals to its policies, the appropriate model to analyze its behavior is
a. game theory. b. perfect competition. c. monopoly. d. cartels.
Economics