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

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Definitions:

Additive Color Mixing

A color process that creates colors by combining lights of different colors, where adding together all primary colors (red, green, blue) results in white.

Wavelengths

The distance between two successive peaks or troughs in a wave, typically used in the context of electromagnetic waves such as light.

Light

Electromagnetic radiation that is visible to the human eye and is responsible for the sense of sight.

Retina

The light-sensitive layer at the back of the eye that captures images and sends them to the brain via the optic nerve.