When a Binding Price Floor Is Imposed on a Market

question 35

Multiple Choice

When a binding price floor is imposed on a market to benefit sellers,

• A)every seller in the market benefits.
• B)all buyers and sellers benefit.
• C)every seller who wants to sell the good will be able to do so,but only if he appeals to the personal biases of the buyers.
• D)some sellers will not be able to sell any amount of the good.

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Definitions:

Rio Grande River

A major river in North America, running from southwestern Colorado in the United States to the Gulf of Mexico, marking part of the border between the U.S. and Mexico.

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Explorers Meriwether Lewis and William Clark, who led the early 19th-century expedition commissioned by President Jefferson to explore the newly acquired western territory of the United States, reaching the Pacific Coast.

Western Expedition

An exploration endeavor typically aimed at discovering, mapping, and acquiring knowledge of new territories in the western regions.

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