Which of the Following Observations Would Be Consistent with a Binding

question 243

Multiple Choice

Which of the following observations would be consistent with a binding price floor in a market?

• A)A smaller quantity of the good is bought and sold after the price floor becomes effective than before the price floor became effective.
• B)A smaller quantity of the good is demanded after the price floor becomes effective than before the price floor became effective.
• C)A larger quantity of the good is supplied after the price floor becomes effective than before the price floor became effective.
• D)All of the above are correct.

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