The minimum legal price that can be charged in a market is:
A. full economic price.
B. a price floor.
C. a price ceiling.
D. non-pecuniary price.
Answer: B
Economics
You might also like to view...
In a market with asymmetric information, a good is said to have hidden characteristics if:
A) the consumption of the good imposes an additional cost on the society. B) the production of the good generates additional benefits to the society. C) the seller offers secret discounts to some buyers. D) the buyer or the seller observes something about the good that the other does not.
Economics
Does the quantity theory correctly predict the effects of money growth on inflation?
What will be an ideal response?
Economics