When a Binding Price Floor Is Imposed on a Market

question 205

Multiple Choice

When a binding price floor is imposed on a market to benefit sellers,

• A)no sellers actually benefit.
• B)some sellers benefit,but no sellers are harmed.
• C)some sellers benefit,and some sellers are harmed.
• D)all sellers benefit.

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Definitions:

Forcing

A conflict resolution style where one individual imposes their will on another, disregarding the concerns and interests of the other party.

Concessions

Adjustments or compromises made by parties in a negotiation to reach a mutual agreement.

Win-lose

A competitive perspective where one party's gain is perceived to be at the expense of another's loss.

Third Party

An entity or individual that is not directly involved in a transaction or agreement but may be affected by it or have an interest in it.