--%>

Explain about minimum legal price

A minimum legal price is called a price: (1) floor. (2) guarantee. (3) foundation. (4) stabilizer. (5) subsidy.

I need a good answer on the topic of Economic problems. Please give me your suggestion for the same by using above options.

   Related Questions in Microeconomics

  • Q : Freedom to enter or leave the market in

    Purely competitive industries are not described by: (i) numerous potential buyers. (ii) product homogeneity. (iii) numerous potential sellers. (iv) freedom to enter or leave the market within the short run. (v) power to adjust quantities although no p

  • Q : An increase in consumer desire for

    An increase in consumer desire for strawberries is most likely to: increase the number of strawberry pickers needed by farmers. reduce the supply of strawberries. reduce the number of people willing to pick strawberries. reduce the need for strawberry pickers

  • Q : Marginal factor cost The Siberian

    The Siberian Software vends custom programs to big multinationals. Its programs are coded in the remote region. In equilibrium, the Siberian faces a marginal factor cost for the programmers of roughly: (1) $21 per hour. (2) $24 per hour. (3) $12 per hour. (4) $18 per

  • Q : Result of successful product

    One complicated result of successful product differentiation: (1) the demand curve shrinks making this more elastic. (2) the demand curve becomes perfectly elastic. (3) prices do not vary considerably between close substitutes. (4) each marginal reven

  • Q : Maximize profit by manufacturing output

    All firms maximize profit by manufacturing output where is: (w) AC = MR. (x) MC = MR when maximum total revenue exceeds total variable costs. (y) MR is rising. (z) TR = TC. How can I solve my Economics

  • Q : Price elasticity of demand at high and

    Moving by left to right along demand curve D, then price elasticity of demand for cheesy fried grits of Pixie is mostly: (w) positive, then unitary, then negative. (x) constant and equivalent to one. (y) greater at high prices than at low prices. (z)

  • Q : Needs of Wage Discrimination Can

    Can someone please help me in finding out the accurate answer from the following question. The Wage discrimination needs a firm to possess: (1) Monopsony power. (2) Monopoly power. (3) Oligopoly power. (4) None of these—no po

  • Q : Determine least price elasticity in

    Of all of the known ranges on such supply curves, the supply of tanks of dehydrated water is least price elastic in between: (i) point a and point b. (ii) point b and point c. (iii) point c and point d. (iv) point e and point f. (v) point g and point

  • Q : Question on Federal Reserve Choose the

    Choose the right answer from following. How many members the Board of Governors of the Federal Reserve has ? A) 5 B) 7 C) 9  D) 14

  • Q : Transfer payments and progressive tax

    Transfer payments and progressive tax policies are being determinate to: (w) reduce disparities in the distributions of income and wealth. (x) shift the Lorenz curve toward a position of less income equality. (y) have no net effect on income equality