Do All Buyers Benefit from a Binding Price Ceiling

question 49

Multiple Choice

Do all buyers benefit from a binding price ceiling?

• A) Yes.A binding price ceiling benefits all buyers because it allows them to obtain the good in the legal market.
• B) No.A binding price ceiling benefits only some buyers because not all are able to obtain the good in the legal market.
• C) No.A binding price ceiling benefits no buyers because sellers are unwilling to sell any of their products.
• D) No.A binding price ceiling benefits only some buyers because,although the price is initially lower,it eventually increases to the equilibrium price.
• E) No.A binding price ceiling benefits no buyers because they are unwilling to buy any of the products at a price higher than the equilibrium.

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Definitions:

Cooperative

A business or organization owned and operated for the mutual benefit of its members, who share in its profits or benefits.

Unassertive

Characterized by a lack of confidence and a hesitancy to express one's own needs, desires, or opinions.

Cooperativeness

The willingness to work together towards a common goal, showing flexibility and consideration for the needs of others.

Own Needs

Individual requirements or desires that motivate behavior and decision-making to achieve personal satisfaction.