What Will Happen in a Market Where a Binding Price

question 92

Multiple Choice

What will happen in a market where a binding price ceiling is removed?

• A) There will be downward pressure on the price in the legal market.
• B) The products sold will improve in quality and become more plentiful.
• C) Sellers will face a reduced incentive to sell the product.
• D) Buyers will find the good more difficult to obtain in the legal market.
• E) There will be increased pressure to buy and sell the good on the black market.

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Definitions:

Industrial Products Salesperson

A professional who specializes in selling goods and materials used in production and manufacturing processes to businesses.

Computer Chip Manufacturers

Computer chip manufacturers are companies engaged in the design, development, and fabrication of microchips or integrated circuits used in various electronic devices.

Sales Trainee

An individual who is undergoing training to acquire the skills and knowledge required to perform effectively in a sales role.