A. The minimum wage
B. Rent controls
C. Restricting petrol prices to Rs100 per litre when the equilibrium price is Rs150 per litre
D. All of these answers are price floors
- What does price elasticity of demand measure?
- A price floor ?
- Assume that global economic expansion causes the quantity of tin demanded to increase by 4 million pounds at each price To maintain price of tin at the target price you would ?
- Scale for measuring the average share price and percentage change of 30 major US industrial companies is called ?
- A firm in perfectly competitive industry is producing 50 units, its profit-maximizing quantity. Industry price is £2 and total fixed costs and total variable cost are £25 and £40 respectively. The firm’s economic profit is?
- An increase in price leads to ? (all other things unchanged)
- Which side of the market is more likely to lobby government for a price floor?
- Suppose that the firms collude and become a cartel The best level of output for the cartel as a whole is ___________ the price equals __________ and profits total __________?
- A fall in price ______ ?
- Supply is likely to be more price elastic ?
- A binding price ceiling creates?
- _________ is attached to the wall of the floor, where the sliding ram moves upwards or downwards depending on how the pressure is applied.