C. a surplus. D. equilibrium price to fall. ANSWER: c. a surplus. In the figure shown, which of the panels represents a binding price floor?

C. a surplus. D. equilibrium price to fall. ANSWER: c. a surplus. In the figure shown, which of the panels represents a binding price floor? A. panel (a) b. panel (b) c. panel (a) and panel (b) d. neither panel (a) nor panel (b) ANSWER: b. panel (b) TYPE: M SECTION: 1 DIFFICULTY: 2 29. In panel (b), at the actual price there will be a. a shortage of wheat. B. equilibrium in the market. C. a surplus of wheat. D. an excess demand for wheat.