click below
click below
Normal Size Small Size show me how
ECN 221 Ch 6
Supply, Demand and Government Policies
| Question | Answer |
|---|---|
| price ceiling | a legal maximum on the price at which a good can be sold |
| price floor | a legal minimum on the price at which a good can be sold |
| tax incidence | the manner in which the burden of a tax is shared among participants in a market |