If a Binding Price Floor Is in Place and If

question 54

Multiple Choice

If a binding price floor is in place and if the demand curve for the product shifts rightward,one consequence would be

• A)an increase in the amount of excess demand.
• B)a decrease in the amount of excess demand.
• C)an increase in the amount of excess supply.
• D)a decrease in the amount of excess supply.
• E)a decrease in the quantity exchanged.

---

Definitions:

Fleeting Trends

Temporary or quickly passing fashions, interests, or preferences in culture or consumer behavior.

Competitive One-Way Dialogues

Communication strategies focused on delivering a message to the audience without expecting a response, used in competitive settings.

Corporate Social Responsibility

A management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.

Brand Loyalty

A consumer's consistent preference for one brand over all others, often expressed through repeated purchases.