If the Government Removes a Binding Price Floor from a Market,then

question 22

Multiple Choice

If the government removes a binding price floor from a market,then the price received by sellers will

• A)decrease,and the quantity sold in the market will decrease.
• B)decrease,and the quantity sold in the market will increase.
• C)increase,and the quantity sold in the market will decrease.
• D)increase,and the quantity sold in the market will increase.

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Definitions:

Sales Volume

Refers to the total number of units of a product or service sold by a company during a specific time period.

Prospects

Potential customers or clients who have been identified as fitting the target market and who may have an interest or need for a company’s product or service.

Technology

The application of scientific knowledge for practical purposes, especially in industry and the creation of tools, machines, and software to solve problems or improve existing solutions.

Avoid Duplicating

involves taking measures to prevent repetition or copying in processes, information, or products to ensure uniqueness and efficiency.