If a Binding Price Floor Is Imposed on the Video

question 64

Multiple Choice

If a binding price floor is imposed on the video game market,then

• A)the quantity of video games demanded will decrease.
• B)the quantity of video games supplied will increase.
• C)a surplus of video games will develop.
• D)All of the above are correct.

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Definitions:

Demonstration

A practical display or explanation of how a product or service works, often used in sales to highlight benefits to potential customers.

Complimentary

Given for free or without charge, often as a gesture of goodwill or as part of a promotional offer.

Customer Benefit

The value or advantage that a customer gains from using a product or service, leading to satisfaction or resolving a problem.

Product

An item or service offered by a company to customers, which can be physical (goods) or intangible (services).