Question: Which statement is true? ( LO5 , 6 ) a) A price fl oor is above equilibrium price and causes surpluses. b) A price fl

Which statement is true? ( LO5 , 6 )

a) A price fl oor is above equilibrium price and causes surpluses.

b) A price fl oor is above equilibrium price and causes shortages.

c) A price fl oor is below equilibrium price and causes surpluses.

d) A price fl oor is below equilibrium price and causes shortages.

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