A minimum wage law is a:

A. quantity restriction.
B. customary norm without legal structure or protection.
C. price ceiling.
D. price floor.

Answer: D

Economics

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A common resource is used efficiently if marginal social benefit equals marginal social cost

Indicate whether the statement is true or false

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When someone buys a movie on DVD, the DVD is a ________ good.

A. collective B. private C. commons D. public

Economics