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:

Nutrient

A substance that provides nourishment essential for the growth and maintenance of life.

Nitrites

Compounds containing the nitrite ion, NO2−, often used in food preservation and potentially harmful in high concentrations.

Bicarbonate

A bicarbonate ion (HCO3-) or a salt containing it, which acts as a buffer to maintain the pH balance in blood and other fluids.

Greenhouse Effect

Reradiation of solar heat toward the Earth, caused by an atmosphere that allows the sun’s rays to pass through, but traps the heat in the same manner as the glass of