Why Is It Often Difficult to Remove a Binding Price

question 171

Multiple Choice

Why is it often difficult to remove a binding price floor after it exists?

• A) in general,because consumers benefit from the lower prices and would lobby their elected officials to keep the price control
• B) in general,because consumers benefit from higher quality products and would lobby their elected officials to keep the price control
• C) in general,because consumers benefit from larger products and would lobby their elected officials to keep the price control
• D) in general,because sellers benefit from higher prices and would lobby their elected officials to keep the price control
• E) in general,because it has little effect on the market price and people forget about it

---

Definitions:

Core Aspects

The fundamental elements or characteristics that define something's essence or most important features.

Making A Sale

The process of persuading a potential customer to buy a product or service, culminating in the exchange of goods or services for money or its equivalent.

Potential Buyer's Interest

The likelihood or degree of interest that potential customers may have in purchasing a product or service.

Buyer's Belief

The perceptions and assumptions that consumers hold about a product, service, or brand, influencing their purchasing decisions.