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ME
Question Practice

What is a likely consequence of imposing a price floor above the equilibrium price?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Economics
Introductory Microeconomics
Market Equilibrium
Question Bank

What is a likely consequence o...

Single Answer MCQ
Q-00089578

What is a likely consequence of imposing a price floor above the equilibrium price?

1

Increased consumer satisfaction

2

Decrease in supply

3

Excess supply

4

No effect on the market

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Q1.

What is market equilibrium?

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When does excess demand occur in a market?

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Q3.

What occurs at a price above the equilibrium price?

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Q4.

What is the equilibrium price in a perfectly competitive market?

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