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If a Price Floor Is Not Binding, Then It Will

question 274

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If a price floor is not binding, then it will have no effect on the market.


Definitions:

Centimeters

In the metric system, a length measurement that is one hundredth of a meter.

Millimeters

A metric unit of length equal to one thousandth of a meter, often used in measuring small objects.

Centimeter

A metric system unit of length, totaling one hundredth or 0.01 of a meter.

Weight

The force exerted by gravity on an object, proportional to its mass.

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