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Microeconomics > Ch. 8-Applications of Supply and Demand > Flashcards

Ch. 8-Applications of Supply and Demand Flashcards

0
Q

Price Ceiling

A

A legislated amount above which the market price is not allowed to rise

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1
Q

Parity

A

The ratio of prices received by farmers for their output to the prices farmers pay for their inputs

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2
Q

Price Floor

A

A legislated amount below which the market price is not allowed to fall

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Microeconomics (8 decks)

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