One of the problems created by price floors is that
a. consumers complain about high prices
b. firms have no incentives to reduce cost
c. excess supply is created
d. people must learn to cope with excess demand
e. technological change is significantly impacted
C
Economics
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A situation in which an individual has no information about probabilities and the underlying distributions of the possible outcomes of an investment choice is called:
a. a prior distribution. b. updating. c. risk tolerance. d. pure uncertainty.
Economics
When government owns a natural monopoly, it can:
A. lose the incentive to be efficient. B. at a loss. C. make business decisions based on political pressures. D. All of these statements are true.
Economics