Use the following to answer questions:
-(Table: Quantity Supplied and Quantity Demanded) Look at the table Quantity Supplied and Quantity Demanded. A price floor equal to _____ would produce excess supply in this market.
A) $5
B) $10
C) $15
D) $20

Question

Use the following to answer questions: 
-(Table: Quantity Supplied and Quantity Demanded) Look at the table Quantity Supplied and Quantity Demanded. A price floor equal to _____ would produce excess supply in this market.
A) $5 
B) $10 
C) $15 
D) $20

Quizplus · Accepted Answer

A price floor of $20 would produce excess supply because it is likely set above the equilibrium price, leading to a situation where quantity supplied exceeds quantity demanded.

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