When a Binding Price Floor Is Imposed on a Market

question 62

Multiple Choice

When a binding price floor is imposed on a market,

• A)price no longer serves as a rationing device.
• B)the quantity demanded at the price floor exceeds the quantity that would have been demanded without the price floor.
• C)all sellers benefit.
• D)All of the above are correct.

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Definitions:

Confidence

A feeling of self-assurance arising from an appreciation of one's own abilities or qualities.

Free Will

The concept that humans have the capacity to make choices that are not pre-determined by past events, genetics, or current environmental factors.

Detrimental

Causing harm or damage; often used to describe actions or conditions that negatively affect one's health, well-being, or success.

Suicide Rates

The proportion of individuals in a population who die by suicide, often expressed per 100,000 people per year.