Business

20 March, 14:58

If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely happen?

a. The quantity of milk demanded will increase.

b. The quantity of milk supplied will decrease.

c. There will be a shortage of milk.

d. There will be a surplus of milk.

+5

Answers (1)

Know the Answer?

Not Sure About the Answer?

Find an answer to your question 👍 “If a government-imposed price floor legally sets the price of milk above market equilibrium, which of the following will most likely ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.

Search for Other Answers

You Might be Interested in

On January 1, 2020, Baby Yoda Corp. issued $950,000 face value, 9%, 5 year bonds. The bond interest is paid on June 30 and December 31. The bonds sold for $1,029,008. When the bonds were sold, the effective rate of interest was 7%.

Earning a degree can be expensive but which example shows why it might be worth it?

Independent business owners who approach attorneys for resolving their business-related disputes are referred to as counsel.

A taxpayer wishes to take a deduction for a worthless debt. Without proper documentation, the taxpayer faces the risk that the IRS will assert that A.

Henry wants to obtain an entry-level accounting position at a major accounting firm. Which educational degree will assist him in accomplishing his professional goal? A. two-year associate degree B. four-year undergraduate degree C.

New Questions in Business

At the end of the year, Dahir Incorporated's balance of Allowance for Uncollectible Accounts is $2,700 (debit) before adjustment. The company estimates future uncollectible accounts to be $13,500.

Which best explains why large companies pay less for goods from wholesalers?

The marketing manager of ToyBiz indicated that due to manufacturing efficiencies and market buzz, a new toy they were about to launch was likely to generate revenue beyond original projections.

Astronauts can use 3D and molecular printers for shelter construction and food preparation on site instead of having to carry the materials to mission sites, thus A.

arter Company sells merchandise on account for $4,000 to Hannah Company with credit terms of 2/10, n/30. Hannah Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period.