Do All Buyers Benefit from a Binding Price Ceiling

question 49

Multiple Choice

Do all buyers benefit from a binding price ceiling?

• A) Yes.A binding price ceiling benefits all buyers because it allows them to obtain the good in the legal market.
• B) No.A binding price ceiling benefits only some buyers because not all are able to obtain the good in the legal market.
• C) No.A binding price ceiling benefits no buyers because sellers are unwilling to sell any of their products.
• D) No.A binding price ceiling benefits only some buyers because,although the price is initially lower,it eventually increases to the equilibrium price.
• E) No.A binding price ceiling benefits no buyers because they are unwilling to buy any of the products at a price higher than the equilibrium.

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Definitions:

N

A symbol often used to represent a sample size or the number of observations or units in a dataset.

Sampling Distribution

The spectrum of probabilities for a predetermined statistic, collected from a random sample.

Probability Density Function

A function that describes the likelihood of obtaining the possible values that a random variable can assume, used in continuous probability distributions.

Finite Population Correction Factor

A correction applied to standard errors or variances when sampling from a finite population without replacement, to account for the decreased variability.