If a Price Floor Is Not Binding, Then

question 248

Multiple Choice

If a price floor is not binding, then

• A)there will be a surplus in the market.
• B)there will be a shortage in the market.
• C)there will be no effect on the market price or quantity sold.
• D)the market will be less efficient than it would be without the price floor.

---

Definitions:

Self-Contradiction

A statement that denies itself, presenting an inconsistency that renders the statement false.

Conjunction

In grammar, a word that connects clauses, sentences, or words; in logic, an operator that combines two boolean variables or propositions to return true only if both operands are true.

Biconditional

A logical statement where both parts must be true or false together; often expressed as "if and only if."

Self-Contradictions

Statements or propositions that are inherently inconsistent with themselves, meaning they cannot both be true in the same context or under the same conditions.