Which of the following will likely occur when price floors in agriculture are implemented?
A) Quantity supplied will exceed quantity demanded.
B) Quantity demanded will exceed quantity supplied.
C) Farmland will be underutilized.
D) Supply will decrease.
Answer: A
Economics
You might also like to view...
When would a currency speculator buy a put option that gives the owner the right to sell the foreign currency at the specified (exercise) price in the future. When would it be worth exercising the option? What are some advantages and disadvantages of currency options compared to forward exchange contracts?
What will be an ideal response?
Economics
A majority of states have a minimum wage that is higher than the federal minimum wage.
Answer the following statement true (T) or false (F)
Economics